BofA the Preeminent Leader in Greenwich Digital Transformation Benchmarking Study

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