Insight & Analysis

Press release: Bank of America Merrill Lynch to expand CashPro® Mobile capabilities

Published: Sep 2018

26th September 2018 – 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.

“We’re pleased to be a leader in commercial mobile banking and continually bring new functionality to our clients,” said Tom Durkin, head of Global Digital Channels in Global Transaction Services (GTS) at BofA Merrill. “We look forward to receiving increased feedback from clients, which users can now send while in the app, that will advance our design thinking approach to CashPro Mobile’s evolution.”

Today’s announcement is the latest investment in mobility andCashPro 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.
  • 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 further 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.

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