BofA Merrill to Expand CashPro® Mobile Capabilities

Investments Coming After 180 Percent Growth in Users Over 12 Months

Wednesday, September 26, 2018 9:00 am EDT

Bank of America Merrill Lynch (BofA Merrill) is accelerating its investment in mobile capabilities, and today is introducing a second wave of enhancements for 2018 that improve the CashPro Mobile user experience.

The new features that are available now offer a simpler and more personalized experience and include:

  • Simpler navigation.
  • Enhanced user interface.
  • A personalized home view that allows clients to take action on their most critical “to-do’s.”
  • Ability to send feedback directly from the app.


Over the last 12 months, the number of users accessing CashPro Mobile has jumped more than 180 percent. “The statistics behind mobile adoption are compelling. We understand that clients like the convenience and portability that mobile access offers, and we’re pleased to bring to market more features that will make their lives easier – allowing them to transact business anywhere and anytime they choose,” said Julie Harris, head of Global Banking Mobile Strategy at BofA Merrill.

Today’s announcement is the latest investment in mobility and CashPro as a platform.

  • Earlier this year, the bank added biometrics and an embedded token to CashPro Mobile, allowing users to quickly and securely access the application and complete payment approvals.
 
About CashPro
Companies use the CashPro platform to manage their everyday treasury needs. The platform has more than 475,000 active users among the bank’s commercial, large corporate, and business banking clients.
  • Last year, the bank introduced CashPro Assistant, a tool that uses artificial intelligence and predictive analytic capabilities to help commercial and corporate clients easily access and analyze their banking information.  
   
  • BofA Merrill was the first bank to introduce integrated mobile check deposit and digital tokenization to the mobile experience.
   


In the months ahead, the bank intends to introduce new functionality for CashPro Mobile in addition to enhancements to CashPro Assistant, including electronic signing and document exchange.

BofA Merrill’s GTS business provides comprehensive global treasury solutions across the breadth of the working capital cycle, including liquidity management, payments and receipts, commercial card, foreign exchange and trade and supply chain finance. With a history spanning more than 230 years, GTS services thousands of clients ― small businesses, mid-size companies, large corporations, financial institutions and public-sector entities ― in more than 200 countries and 140 currencies.

Screenshots of CashPro Mobile’s new user experience:

 

 

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,400 retail financial centers, including more than 1,700 lending centers, more than 1,900 Merrill Edge investment centers and more than 1,300 business centers; approximately 16,100 ATMs; and award-winning digital banking with more than 36 million active users, including 25 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. ©2018 Bank of America Corporation.

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Reporters May Contact:
Louise Hennessy, Bank of America Merrill Lynch, 415.913.3641
louise.hennessy@bankofamerica.com