CashPro Online provides its corporate customers real-time, 24/7, online services that include payment solutions, receipts and receivables management, working capital and liquidity optimization. Other online services are information reporting and administration, fraud prevention services, and support and training. Developed by Bank of America Merrill Lynch, CashPro provides a single online access point for BA's corporate and commercial clients to manage their cash, investments, trade, debt and foreign exchange requirements, anywhere and anytime.
CashPro Online's payment processing solutions include CashPro Payments, which allows clients to perform cross currency, multibank, internal book transfer, bank draft and payroll payments; CashPro Trade that lets clients easily create trade payments, view supply chain transactions, and automate the creation of letters of credit and issuance of open accounts; and CashPro BillPay that allows clients to approve and schedule payments without performing tedious administrative tasks such as writing and sending checks.
CashPro Online's receipts and receivables management services offer clients several workflow tools for processing receivables quickly and more efficiently. For example, CashPro Receivables consolidates checks, wire and card receipts into one report; CashPro Remote Deposit allows clients to deposit checks from their computers without making trips to the bank; and Remote Lockbox captures checks and remittances, and processes in-house payments.
CashPro Online's working capital and liquidity optimization services offer client options for capital requirements by sourcing from local, regional or global account structures; manage clients' investments with CashPro Invest; improve supply chain finance through CashPro Trade; and mitigate risks during complex transactions with escrow services.