Bank of America Merrill Lynch to Offer CashPro(R) Invest

CHARLOTTE, N.C., May 4 /PRNewswire/ -- Bank of America Merrill Lynch today announced an agreement that will create a world-class investment application to be integrated with the bank's next-generation treasury management portal, CashPro^® Online.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20090812/CL60095LOGO )

CashPro® Invest will be developed through an agreement with Cachematrix, a leading provider of custom trading solutions for global financial institutions. When available later this year, the new order entry, research and reporting application will provide more efficiency and give clients a higher level of service in investment activities.

"By leveraging the latest technology and best practices, CashPro Invest will deliver the investment capabilities that our clients expect from an industry-leading financial services firm," said Fred Berretta, Global Liquidity Solutions executive at Bank of America Merrill Lynch. "This new application will offer clients improved navigation, faster speed and other benefits, and serves as another example of Bank of America Merrill Lynch's ongoing investment in innovation and commitment to global expansion."

CashPro Invest will be integrated with CashPro Online, the new treasury management portal that Bank of America Merrill Lynch launched in 2009. CashPro Invest will be provided through the Bank of America's investment banking affiliates – Banc of America Securities LLC and/or Merrill Lynch, Pierce, Fenner & Smith Incorporated. CashPro Online also will be enhanced over the next year with new payments and information reporting applications.

Cachematrix currently hosts a separate investment account management application within Bank of America Merrill Lynch called MoneyMarkets Express. Clients now using that platform, as well as those using another existing investment application, will migrate to CashPro Invest starting later this year.

"We're pleased to build on our existing relationship with Bank of America Merrill Lynch and welcome the opportunity to help create a leading investment application in CashPro Invest," said George Hagerman, CEO of Cachematrix.

Bank of America Merrill Lynch embarked on a multi-year investment in new technology as part of the bank's expansion of treasury management, corporate banking and other businesses in key global markets.

Bank of America

Bank of America is one of the world's largest 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 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation.  Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC.  Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities.  Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

www.bankofamerica.com

SOURCE Bank of America Merrill Lynch

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED