Bank of America Merrill Lynch, a recognized leader in global treasury solutions, today announced significant enhancements to its online liquidity management and investment order capability.
Corporate and commercial clients can now utilize CashPro Invest to enter orders and obtain information and reporting for U.S. dollar denominated money market mutual funds and other short-term investment products. Clients also now have access to extensive research available on money market mutual funds.
CashPro Invest is integrated with CashPro® Online, the bank's next-generation treasury management portal, meaning clients have a one portal solution using a single sign-on to navigate to virtually all of their treasury, credit and investment applications.
"Through CashPro Invest, our clients can quickly and easily enter money market mutual fund and other short-term orders online with streamlined navigation and robust security features," said Fred Berretta, Global Liquidity Investment Solutions executive for Bank of America Merrill Lynch. "They can also manage orders within their own company defined investment policy rules. In addition, they have fast and flexible access to virtually all of their investment account information as well as a significant amount of mutual fund research, all from one online location."
CashPro Invest will eventually replace two existing Bank of America Merrill Lynch online investment applications, Connection and MoneyMarkets Express.
"CashPro Invest is a key value-add for our clients who utilize CashPro Online for their daily investment activities," said Cindy Murray, head of Global Treasury Product Infrastructure, Platforms and eCommerce for Bank of America Merrill Lynch. "This fully integrated investment access is just the latest in a series of additional CashPro Online functionality we've made available to our clients recently, enabling them to now handle their banking needs more easily, efficiently and effectively."
New short-term liquidity products available through CashPro Invest include Bank of America, N.A. certificates of deposit, repurchase agreements and federal funds, among others. U.S. . dollar denominated money market mutual funds available through CashPro Invest are offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated.