Bank of America Corp. has launched Trade Pro, an electronic platform for companies to manage trade and financial supply chain operations.
The product will be available through CashPro Online, the Charlotte, N.C., bank's treasury management and online banking channel for corporate and institutional clients, Bank of America Merrill Lynch said Tuesday.
Trade Pro enables clients to automate and manage import and export trade and supply chain activity between buyers and sellers. The product is available in multiple languages and has customized settings and dynamic data-mining and reporting, Bank of America Merrill Lynch said.
Through Trade Pro, importers will be able to automate their purchase order details into letter of credit or open account transactions. Exporters will be able to access web reporting to view export letter of credit and open account transaction details and presentation discrepancies. Buyers will be able to make approved invoice details for discounting prior to maturity available to sellers.
