at Financial Technnology Year
This content is provided by FinTechBenchmarker.com who are responsible for the content. Please contact them if you have any questions.
CashPro from Bank of America Merrill Lynch
CashPro offers a unified platform for managing cash, liquidity, and payments. Features include real-time visibility into cash positions, digital payments, and robust reporting tools to support decision-making.
More about Bank of America Merrill Lynch
Product analysis by function
Bank Account Management Systems for Cash Management
Platforms that centralize the administration of corporate bank accounts, signatories, and mandate management across multiple financial institutions and jurisdictions.
More Bank Account Management Systems
More Cash Management ...
Account Setup & Maintenance
(6 Yes /6 Known /12 Possible features)
|
Multi-bank Account Integration The ability to connect and manage accounts across multiple banking institutions within one system. |
CashPro supports account management across multiple institutions (Bank of America documentation and customer reviews confirm multi-bank capabilities). | |
|
Bulk Account Creation Supports the opening and configuration of multiple bank accounts simultaneously. |
No information available | |
|
Account Data Validation Automated validation of account information to prevent errors and duplicates. |
Product enables automated validation of account data to prevent errors (per reporting and documentation on setup workflows). | |
|
User Role-based Access Control Ability to assign and control user permissions for account access and operations. |
Role-based access control is a core feature (official documentation highlights customized user roles and permissions). | |
|
Automated Account Closure Workflow to safely and automatically close redundant or unneeded accounts. |
No information available | |
|
Audit Trail for Changes Maintains a complete history of all changes made to account details. |
Audit trails for changes are mentioned as part of CashPro security and compliance tools. | |
|
Account Status Monitoring Tracks status (active, dormant, closed) and alerts for status change. |
CashPro delivers monitoring and alerts for status changes (see real-time cash/treasury functions). | |
|
Custom Account Grouping Ability to categorize and group accounts by business unit, region, or purpose. |
No information available | |
|
Account Metadata Customization Allows the addition of custom fields/attributes to accounts. |
No information available | |
|
Automated Signatory Management Tracks and manages authorized account signatories, automating updates. |
No information available | |
|
Account Hierarchy Visualization Visual representation of account relationships and organizational structures. |
No information available | |
|
Instant Notification of Account Changes Sends alerts for any changes or critical events related to accounts. |
Instant notifications on critical account changes are supported; official feature lists include alerting and notification functionality. |
Bank Connectivity
(7 Yes /7 Known /10 Possible features)
|
Host-to-host Integration Direct, secure connection with bank platforms for high-volume data exchange. |
No information available | |
|
SWIFT Network Connectivity Supports messaging and transactions over the SWIFT network. |
SWIFT connectivity is a standard feature for multi-bank corporate platforms at this tier (Bank of America confirms CashPro SWIFT capability). | |
|
API-based Banking Integration Offers APIs for real-time data integration with banks. |
CashPro offers API-based integration with banks and treasury systems; APIs are described in integration guides. | |
|
File-based Bank Statement Import Supports electronic import of bank statements (BAI2, MT940, ISO 20022, etc). |
File-based imports (BAI, MT940, ISO 20022) are supported as standard by CashPro per feature brochures. | |
|
Multi-bank Connectivity Capacity Number of financial institutions that can be connected simultaneously. |
No information available | |
|
Connectivity Uptime SLA Guaranteed system uptime for bank connections. |
No information available | |
|
Real-time Data Synchronization Ensures banking data is updated in real-time. |
Real-time or near real-time data synchronization is promoted, enabling up-to-date visibility. | |
|
Automated Bank Authentication Uses secure protocols to authenticate bank data connections automatically. |
Automated secure bank authentication is referenced in security overviews. | |
|
Scheduled Bank Downloads System automatically polls bank accounts based on a schedule. |
CashPro offers scheduled/batch and real-time data downloads according to user configuration. | |
|
Multi-format Support Accepts a range of data formats from banks (CSV, XML, EDI, etc). |
Multi-format data support (CSV, XML, EDI, BAI2, etc.) is part of regular statement and payment import/export. |
Cash Positioning & Visibility
(9 Yes /9 Known /11 Possible features)
|
Real-time Balance Display Shows up-to-the-minute account balances. |
Real-time balance display is a headline feature; CashPro advertises up-to-the-minute cash positions. | |
|
Historical Balance Analysis Enables tracking and analysis of balances over time. |
Historical balance tracking and analysis available through reporting functionality. | |
|
Automated Intraday Position Updates System updates cash positions throughout the day as transactions process. |
Automated intraday position updates are referenced consistently across the product's collateral. | |
|
Consolidated Cash Position Reporting Aggregates balances from multiple accounts and banks for group-wide view. |
Consolidated reporting across accounts and banks is a primary feature. | |
|
Currency Breakdown Displays cash positions by individual currency. |
Currency breakdown of cash positions is offered for multi-currency corporates. | |
|
Forecast-to-Actual Reconciliation Links forecasts with actual account movements to highlight variances. |
CashPro can reconcile forecasted versus actual cash flows for variance analysis. | |
|
Cash Pooling Structure Visualization Shows structure and flows of notional or physical cash pooling arrangements. |
No information available | |
|
Account Balance Sweep Scheduling Automates daily or scheduled account sweeps to optimize cash concentration. |
Scheduled account sweeps are supported for cash concentration. | |
|
Automated Surplus/Deficit Alerts System notifies users of unusually high or low balances automatically. |
Real-time alerts for surplus/deficit thresholds are configurable in CashPro. | |
|
Multidimensional Filtering Ability to filter cash positions by entity, country, bank, or custom dimension. |
No information available | |
|
Liquidity Usage Reporting Summarizes how cash/liquidity is allocated across business lines and accounts. |
Liquidity usage reporting is available via analytics and reporting widgets. |
Payments & Collections
(8 Yes /8 Known /10 Possible features)
|
Bulk Payment Initiation Facilitates mass payment instructions to one or more banks. |
Bulk payment initiation for payroll/vendor payments is a well-documented use-case for CashPro. | |
|
Payment Approval Workflow Customizable workflows for payment authorization, including maker-checker controls. |
Customizable approval workflows (including dual controls) are part of payment features. | |
|
Automated Payment Matching Matches incoming payments to invoices or outstanding items. |
Automated payment matching referenced in official overviews (applies to collections/reconciliation). | |
|
Real-time Payment Status Tracking Displays current statuses of all outgoing and incoming payments. |
Real-time tracking of payment status is promoted as an advantage for corporates. | |
|
Multi-currency Payment Support Supports payments in all major and local currencies. |
Product handles multi-currency payments by design (essential for global treasury platforms). | |
|
Payment Template Management Saves and reuses templates for recurring or bulk payment runs. |
Payment template management is promoted for recurring payment automation. | |
|
Sanctions & Compliance Screening Automatically screens payees against sanctions or blacklists. |
Sanctions and compliance screening is referenced throughout BofA CashPro documentation. | |
|
Automated Payment Reversals Supports automated recall or reversal of payments if necessary. |
No information available | |
|
SEPA/ACH/SWIFT Payment Support Supports major payment rails and formats specific to geography. |
SEPA, ACH, and SWIFT payment support are specifically called out in payment services. | |
|
Payment Initiation Capacity Maximum number of payment transactions that can be processed per hour. |
No information available |
Reconciliation
(5 Yes /5 Known /10 Possible features)
|
Automated Bank Statement Import System supports scheduled import of electronic bank statements. |
Electronic bank statement import is a standard automated process within CashPro. | |
|
Rule-based Transaction Matching Uses configurable rules to match bank and ledger transactions automatically. |
No information available | |
|
Manual Exceptional Handling Provides workflow for reviewing and resolving unmatched transactions. |
No information available | |
|
Automated Exception Alerts System flags discrepancies or unmatched transactions in real-time. |
Real-time exception alerts for reconciliation issues are described as part of operations dashboard. | |
|
Reconciliation Processing Speed Volume of transactions reconciled per minute. |
No information available | |
|
Granular Audit Log Tracks all reconciliation activities and user interventions. |
Audit logging for reconciliation processes is a feature highlighted for compliance. | |
|
Attachment & Note Linking Allows users to attach documents or notes to reconciliation items. |
No information available | |
|
Reconciliation Dashboard Visual dashboard of reconciliation status and outstanding breaks. |
Reconciliation dashboards are available for treasury and finance users. | |
|
Multi-account, Multi-currency Support Handles reconciliations across heterogeneous currency and account types. |
Multi-account and multi-currency reconciliation is necessary for Bank Account Management Systems like CashPro. | |
|
Auto-generated Adjustment Entries Can create and post adjusting entries to resolve breaks. |
No information available |
Security & Compliance
(6 Yes /6 Known /10 Possible features)
|
Multi-factor Authentication Users are required to provide multiple forms of identification. |
Multi-factor authentication featured in security controls (standard for BofA digital products). | |
|
Data Encryption in Transit and at Rest Data is encrypted during transmission and while stored. |
Encryption in transit and at rest is a regulatory requirement and cited in technical documentation. | |
|
SOX/PCI/DSS Compliance Platform is compliant with key regulatory and industry standards. |
SOX and PCI/DSS compliance are confirmed in Bank of America service agreements and documentation. | |
|
Automated User Access Review Periodically reviews user permissions, prompting revocation of unneeded rights. |
No information available | |
|
Audit Logging and Reporting All system actions are logged and can be exported for audit. |
Audit logs and reporting are standard for CashPro compliance and auditing. | |
|
IP Whitelisting Restricts platform access to specified network addresses. |
No information available | |
|
Granular Permission Levels Enables detailed, hierarchical access permissions. |
Granular permissions are detailed in admin configuration guides for CashPro. | |
|
Compliance Alerting System sends alerts regarding potential regulatory breaches or anomalies. |
Compliance alerts are included as part of automated treasury/transaction workflows. | |
|
Automated Data Retention and Purging Data lifecycle management for compliance with retention policies. |
No information available | |
|
Penetration Testing Frequency Number of external penetration tests conducted annually. |
No information available |
Reporting & Analytics
(6 Yes /6 Known /10 Possible features)
|
Customizable Dashboard Configurable, visual display of key cash and account metrics. |
CashPro offers customizable dashboards for cash management reporting and analytics. | |
|
Ad-hoc Report Builder Users can create custom reports by selecting data fields and filters. |
Ad-hoc report builder tools are promoted as a key platform benefit. | |
|
Automated Scheduled Reporting Sends reports periodically to defined recipients automatically. |
Scheduled reporting is supported and can be distributed to user-defined lists. | |
|
Data Drilldown Ability to explore underlying transactions behind summary data. |
Drilldown into transaction data is available from report summaries within the platform. | |
|
Anomaly Detection Analytics System applies analytics to flag outlier transactions or activities. |
No information available | |
|
Export to Multiple Formats Reports can be exported to Excel, PDF, CSV, and other common formats. |
Export to Excel, PDF, and CSV is documented in the user manual. | |
|
User-level Reporting Permissions Control which users may access sensitive data in reports. |
No information available | |
|
Data Visualization Widgets Support for charts, graphs, and custom data displays. |
Data visualizations (charts, graphs) form part of the core analytics dashboards. | |
|
Historical Trend Analysis Allows users to analyze trends in balances, payments, and collections by period. |
No information available | |
|
Automated KRI/KPI Calculations Key Risk and Performance Indicators are automatically calculated and reported. |
No information available |
Integration & Data Management
(4 Yes /4 Known /10 Possible features)
|
ERP/TMS System Integration Supports seamless data exchange with ERPs or Treasury Management Systems. |
ERP/TMS integration is supported and listed as a feature for CashPro integrations. | |
|
Open RESTful APIs APIs for flexible and scalable integration scenarios. |
RESTful APIs are available for integration, according to developer and product documentation. | |
|
Data Mapping Engine Tool for mapping and transforming incoming/outgoing data formats. |
Data mapping and transformation tools are referenced in the integration overview. | |
|
Master Data Management Manages and synchronizes core master data used for accounts and transactions. |
No information available | |
|
Bulk Data Import/Export Handles large-scale data uploads and downloads efficiently. |
Bulk import/export is a promoted feature for large enterprise onboarding. | |
|
Automated Data Error Handling Detects and manages data mismatches during integration. |
No information available | |
|
Integration Latency Average time lag for data sync between systems. |
No information available | |
|
Data Quality Dashboard Summary metrics and visualizations of data completeness and accuracy. |
No information available | |
|
Audit Trailing of Data Changes Tracks and logs each data element's history. |
No information available | |
|
Integration Failure Notifications Real-time alerting for integration or sync failures. |
No information available |
User Experience & Accessibility
(7 Yes /7 Known /10 Possible features)
|
Cloud/Web-based Access Platform is accessible securely from anywhere via the internet. |
CashPro is a secure web-based platform accessible from any internet connection. | |
|
Mobile Device Support System is usable via mobile devices and tablets. |
Mobile access supported via CashPro Mobile app (documented on official product page). | |
|
Multi-language Interface User interface available in multiple languages. |
No information available | |
|
End-user Customization Users can personalize dashboards, views, and notifications. |
End-user dashboard and notification customization is highlighted as part of user experience features. | |
|
Accessibility Compliance Meets standards for users with disabilities (e.g., WCAG). |
No information available | |
|
Responsive Design Interface optimizes for various device screen sizes. |
Responsive web design ensures usability across a range of devices/screens. | |
|
Contextual Help & Tutorials Help resources integrated directly into the application. |
Integrated help documentation and tutorials found within the CashPro platform. | |
|
Self-service Password Reset Users can securely reset their own login credentials. |
Self-service password reset is available as part of user account management. | |
|
Instant Search Across Accounts Quick keyword or advanced search across all accounts. |
Instant search functionality across accounts is described for CashPro. | |
|
Session Timeout Configurability Customizable idle timeout to protect unattended sessions. |
No information available |
Workflow & Automation
(3 Yes /3 Known /10 Possible features)
|
Configurable Workflow Engine Design and modify multi-step approval processes for banking activities. |
Workflow configuration (approval and processing) is a core feature for banking activities in CashPro. | |
|
Automated Task Assignment System automatically assigns tasks to appropriate users/groups. |
No information available | |
|
SLA-driven Escalation Tasks are escalated per service-level agreements if not completed on time. |
No information available | |
|
Conditional Routing Route work based on data values, user roles, or thresholds. |
No information available | |
|
Automated Notifications & Reminders Sends workflow reminders and alerts to responsible users. |
Automated notifications and workflow reminders are included to prompt user actions. | |
|
Workflow Performance Analytics Reports on workflow steps, bottlenecks, and completion time. |
Performance analytics on workflow/completion times are shown in the operations dashboard. | |
|
Template-driven Approvals Standardized approval templates for recurring tasks. |
No information available | |
|
Parallel Processing Support Supports simultaneous workstreams within workflow. |
No information available | |
|
Automated Document Generation Creates account opening, closure, or compliance documentation automatically. |
No information available | |
|
Workflow Execution Speed Average time to complete a standard workflow step. |
No information available |
Service, Support, and Vendor Management
(5 Yes /5 Known /10 Possible features)
|
24/7 Customer Support Vendor provides round-the-clock access to technical and functional support. |
24/7 customer support is offered to CashPro clients as documented on the website. | |
|
Dedicated Account Manager Each client has a named contact for relationship management. |
Dedicated account managers are standard for large corporate clients using CashPro. | |
|
Service Response SLA Guaranteed time to initial response for support queries. |
No information available | |
|
Online Knowledge Base Comprehensive self-service documentation and FAQs. |
Rich online knowledge base is available through the CashPro client portal. | |
|
Community / User Forum Platform for peer-to-peer support and best practice sharing. |
No information available | |
|
Automated System Health Monitoring System runs automated diagnostics and sends operational alerts. |
No information available | |
|
Product Update Frequency How often updates and new features are released. |
No information available | |
|
Disaster Recovery RTO Maximum Recovery Time Objective for system restoration. |
No information available | |
|
Uptime/Downtime Dashboard Live status information on platform availability. |
Uptime/downtime dashboards are available for platform status transparency. | |
|
Customer-driven Enhancement Requests Process for customers to suggest new features or improvements. |
CashPro includes a process for customer enhancement/suggestion requests (per client materials and site). |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.