Innovations Within the CashPro® Platform Lead
to Top Scores Within Digital Channels, Payments & Treasury
Management Categories
Company Also Receives 2023 Greenwich
Excellence Awards for Digital Experience in Serving Large Corporate
Clients
CHARLOTTE, N.C., Jan. 30,
2024 /PRNewswire/ -- Bank of America has
received top scores in the annual Coalition Greenwich Digital
Transformation Benchmarking Study in recognition of ongoing
enhancement of its CashPro® platform. CashPro is the company's
digital banking platform accessed by more than 40,000 corporate and
commercial clients around the world to manage their treasury, trade
and credit operations and perform self-service requests. Highlights
from this year's study include:
- Bank of America received the No. 1 score in this annual study
for its leadership in Digital Channels, for the second consecutive
year.
- Within the Digital Channels category, Bank of America received
No. 1 scores for its Mobile capabilities and Online Portal (tied),
each for the second consecutive year. The company also received a
No. 1 score for API Access & Connectivity.
- Within the study's Payments & Treasury Management category,
Bank of America received several No. 1 scores, including Analytics
& Insights (for the second consecutive year), Merchant &
Card Services, Transactional Foreign Exchange, Liquidity Management
(tied) and Receivables (tied).
Bank of America has also earned recognition in the 2023
Greenwich Excellence Awards for U.S. Large Corporate Finance for
its leadership in U.S. Large Corporate Banking and U.S. Large
Corporate Cash Management.
- Within the award's U.S. Large Corporate Banking category, Bank
of America was recognized for excellence in Overall Digital
Experience. The company also received recognition for Ease of Doing
Business; Effective Senior Management Support; Coordination of
Product Specialists; Frequency of Contact; Knowledge of Transaction
Banking Needs; and Timely Follow-up.
- Within the U.S. Large Corporate Cash Management category, the
bank was recognized for Digital Platform Design &
Functionality, and for its Ease of Doing Business.
Due in large part to its commitment to innovation and listening
to client feedback, Bank of America is a leader in treasury,
payments, and transaction services. CashPro enables clients to take
greater control of their treasury operations through enhanced
personalized, proactive, and predictive solutions. This industry
leading platform sets the bar for client experience and ease of
doing business by providing efficiency through automation and
integration with a client's existing systems. Over the last two
years, the company has introduced several enhancements to the
platform, including CashPro Insights, CashPro
Chat, CashPro Supply Chain Solutions, CashPro
Forecasting, and CashPro QR Sign-In.
"The results of the Coalition Greenwich study reflect the
commitment of our CashPro team to continually innovate with our
clients and respond to their feedback through forums like the
CashPro Advisory Board," said Tom
Durkin, Global Product Head of CashPro in Global Transaction
Services (GTS) at Bank of America. "These accolades reinforce that
we are investing in the right solutions for our commercial and
corporate clients and providing them the best banking experience
possible through innovative financial technology that allows them
to enhance their operations and make better business
decisions."
"The CashPro team at Bank of America has been extraordinary at
providing a sophisticated platform for its clients. The company's
ongoing investment and commitment to providing the best client
experience is what keeps them at the top of our rankings year after
year," said Chris McDonnell, head of
Community, Commercial and Digital Banking at Coalition
Greenwich.
Coalition Greenwich is a leading provider of strategic
benchmarking, analytics and data intelligence to the financial
services and investment industries. They specialize in providing
unique, high-value and actionable information to help banks make
better business decisions.
Bank of America
Bank of America is one of the world's leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving
approximately 69 million consumer and small business clients with
approximately 3,800 retail financial centers, approximately 15,000
ATMs (automated teller machines) and award-winning digital banking
with approximately 57 million verified digital users. Bank of
America is a global leader in wealth management, corporate and
investment banking and trading across a broad range of asset
classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers
industry-leading support to approximately 4 million small business
households through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations across the United
States, its territories and more than 35 countries. Bank of
America Corporation stock is listed on the New York Stock Exchange
(NYSE: BAC).
Bank of America makes no warranty, representation or guarantee
regarding the suitability of CashPro, including its enhancements,
for any particular purpose, nor does Bank of America assume any
liability arising out of the use or application of CashPro, or
related products and services.
Reporters may contact:
Andy Aldridge, Bank of
America
Phone: 1-980-387-0514
andrew.aldridge@bofa.com
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SOURCE Bank of America Corporation