Bank of America Merrill Lynch has rolled out three new modulesfor CashPro Online, the bank's treasury management and onlinebanking platform: CashPro Payments, CashPro InformationReportingand CashPro Mobile.

CashPro Payments lets clients initiate different types ofpayments, like wire transfers and ACH payments, via a singleapplication. The new module supports more than 200 payment formatsand incorporates a global payments hub, notes Cindy Murray, head ofglobal treasury product infrastructure, platforms and ecommerce forB of A.

The payments hub has a rules engine with rules for each paymenttype, Murray says. The rules engine can let a customer know whatrepairs are needed on a payment file they're importing, she says,and when a client is making a payment, the rules engine providespayment options based on such factors as the time of day and thesettlement date. “There's a lot of intelligence we built into theapplication,” Murray says.

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Susan Kelly

Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.