“Our highly advanced e-payment solution, CashPro Payments operates across countries, currencies and payment types, giving our clients immediate access to vital information,” said Faisal Ameen, head of treasury products, Asia-Pacific global treasury solutions. “Its usability, workflow, flexibility and use of straight-through processing have impressed our early adopters.

 

The rapid adoption of mobile and wireless technologies in the Asia-Pacific region has led to increased deployment of online channels in treasury management by several international banks. There has been greater focus on how the information can be churned to facilitate payment application and reconciliation and hence make meaningful managerial decisions.

 

While CashPro Payments helps clients initiate several different types of payments through a single application, “sticky notes” enables them to attach additional information about the payment to the transaction for later reference. CashPro Information Reporting further generates customizable reports enabling clients to manipulate the data into the format most helpful to them. CashPro Mobile then leverages the technology platform to give clients the choice of which accounts they want to view and initiate actions such as approving payments and account user access authority, while on the go.

 

The initiative is a continuation of the bank's commitment to provide greater treasury functionalities with the aid of technology. A couple of months ago, BoAML expanded its CashPro Connect electronic bank account management (eBAM) service to a wide range of corporate and commercial clients in the US and Europe. The integrated global application helps automate and standardize the opening, closing and maintenance of bank accounts, treasury services and bank record of legal entities.