BofA Adds Three APIs to CashPro® to Advance Real-Time Treasury
06 Ottobre 2020 - 04:00PM
Business Wire
APIs Support Client Demand for Seamless FX
Settlement, Check Image Retrieval, and Pulling Reports
Bank of America is supporting the increasing demand for
real-time information and processing in corporate treasury with the
launch of three new APIs (application programming interface).
Connected through CashPro, the bank’s technology suite for
companies, the new APIs support FX settlement, the retrieval of
check images, and pulling reports.
The power of an API lies in its ability to directly connect
different systems and allow for the exchange of data between them
in real or near-real time. “With CashPro APIs, we’re helping our
clients bring banking information and daily operations even closer
together,” said Stephanie Wolf, head of Global Financial
Institutions, Governments and Business Banking Sales in Global
Transaction Services (GTS) at Bank of America. “Our clients can
transact and see real-time banking data directly from their own
enterprise software, giving them an advantage in the digital,
always-on economy.”
“APIs are rapidly transforming B2B and B2C digital
transactions,” said Tom Durkin, global product head for CashPro.
“Using APIs, clients can improve their interaction with us and
receive essential data needed for reconciliation and forecasting
more quickly. They can transact instantly and get up-to-the-minute
account information without leaving their enterprise systems.”
The bank’s APIs are free to clients using CashPro. The three new
APIs developed in direct response to client feedback include:
- FX settlement: Clients can directly manage cross-border
payments, either initiating a single cross-currency FX payment or
bundling payments into one foreign exchange settlement.
- Check image retrieval: To assist with account
reconciliation, clients can now directly retrieve multiple images
of checks that have been posted to their account.
- CashPro reporting: Pulling and scheduling reports are
among the most heavily used CashPro features. Through this API,
treasury teams can access reports seamlessly and optimize the power
of their data.
Today, the bank’s suite of APIs on CashPro spans eight
categories (see below), and clients of all sizes are availing
themselves of the enhanced connectivity. In the months to come,
we’ll add even more APIs to support additional payment types and
other treasury needs and advance straight-through processing in all
areas of our clients’ corporate treasury operations.
Bank of America’s APIs:
- CashPro Payments, featuring real-time payments such as PayPal,
Zelle and ACH.
- CashPro Information Reporting.
- Push notifications.
- Commercial Card.
- Bond trading and prime brokerage.
- Boleto Bancário.
- Check services.
- Foreign exchange.
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
66 million consumer and small business clients with approximately
4,300 retail financial centers, including approximately 3,000
lending centers, 2,700 financial centers with a Consumer Investment
Financial Solutions Advisor and approximately 2,100 business
centers; approximately 16,900 ATMs; and award-winning digital
banking with approximately 39 million active users, including
approximately 30 million mobile 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 3 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 approximately 35 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock
Exchange.
“Bank of America” is the marketing name used by certain Global
Banking and Global Markets businesses of Bank of America
Corporation. Lending, other commercial banking activities, and
trading in certain financial instruments are performed globally by
banking affiliates of Bank of America Corporation, including Bank
of America, N.A., Member FDIC. © 2020 Bank of America Corporation.
All rights reserved.
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Reporters May Contact: Louise Hennessy, Bank of America,
1.646.858.6471 louise.hennessy@bofa.com
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