Bank of America Merrill Lynch says it will add a new investment application, CashPro Invest, to CashPro Online, the treasury management portal it launched last year. CashPro Invest will help companies with their short-term investments, with capabilities including order entry, research and reporting. B of A says it will develop the new application with Cachematrix, which provides custom trading solutions for financial firms. Clients that now use MoneyMarket Express will migrate to CashPro Invest when it becomes available later this year, according to the bank.
Travelex Global Business Payments has joined forces with Kyriba, which provides a software-as-a-service treasury management product, to help corporate customers simplify their global payments, according to the two companies. The joint solution will give customers a straight-through process for international payments and provide them with visibility into their cash flows across all currencies, the companies say.