Bank of America Corp. announced the launch Monday of its CashPro Online banking channel for commercial and corporate clients, providing a single point of access to global treasury, debt, cash management, trade finance and other financial services.
CashPro Online will be available in November for new clients and existing clients who used a previous version of CashPro. Other clients will move to the new channel in 2010, B of A said.
"This is the next generation of online banking for commercial and corporate clients," Cindy Murray, the global corporate banking e-commerce executive at Bank of America Merrill Lynch, the marketing name for B of A's global banking and global markets businesses, said in a press release.
B of A said it plans to integrate the CashPro Online channel with a payments hub, under development, to integrate common payments processes, react more swiftly to evolving standards and regulatory changes and increase efficiency.