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BofA adds three APIs to CashPro to advance real-time treasury

Friday 9 October 2020 14:18 CET | News

Bank of America has launched three new APIs to support the increasing demand for real-time information and processing in corporate treasury.

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. 

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 and optimise the power of their data.

 

Today, the bank’s suite of APIs on CashPro spans eight categories (see below). In the months to come, the bank will 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:

 

  1. CashPro Payments, featuring real-time payments such as PayPal, Zelle and ACH.
  2. CashPro Information Reporting.
  3. Push notifications.
  4. Commercial Card.
  5. Bond trading and prime brokerage.
  6. Boleto Bancário.
  7. Check services.
  8. Foreign exchange.

 


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Keywords: Bank of America, APIs, corporate treasury, CashPro, FX , payments, Commercial Cards
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech






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