BofA launches CashPro Accelerate reporting solution in Asia Pacific
Date: Feb 07, 2013
Categories: Technology & Operations, Transaction Banking
Hong Kong, February 5th 2013 - Bank of America Merrill Lynch Global Transaction Services (GTS) today announced the launch of the CashPro Accelerate® reporting solution across Asia Pacific. CashPro Accelerate is now available to treasury management clients in 12 markets in Asia Pacific – Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.
Combining Microsoft® Excel with XML technology, CashPro Accelerate empowers clients in Asia Pacific to accurately and efficiently manage global cash positions via timely data processing. The key benefits of the solution include streamlined cash position reporting, reduced manual processing, enhanced reconciliation functions, automated cash journal entries, account management across various banks and customized data templates.
In tandem with the official launch of CashPro Accelerate in Asia Pacific, Bank of America Merrill Lynch GTS today also announced the solution implementation for POSCO Investment Co. Limited (Hong Kong), a subsidiary of POSCO, South Korea’s largest steel manufacturer. The implementation of CashPro Accelerate by POSCO Investment Co., which serves as a pilot client, complements its existing treasury management relationship with the bank in Asia Pacific.
“CashPro Accelerate is a core component within our ongoing drive to streamline reporting and minimize manual data entry. Partnering with Bank of America Merrill Lynch, we are confident of enhancing our cash reporting processes and maximizing visibility through this innovative solution,” said Kim Beom Jin, director of POSCO Investment Co. Limited.
Re-disseminated by The Asian Banker