CHARLOTTE, N.C.--()--Bank of America Merrill Lynch today announced the creation of a strategic platform to enhance the delivery of its global liquidity product offering. The new Global Liquidity Platform is a centralized technology hub that enables the company to provide consistent, seamless and integrated liquidity solutions to clients around the world.
“This platform allows us to provide solutions to help our corporate and commercial clients do business across the globe.”
The Global Liquidity Platform encompasses operational, liquidity and product-specific components, or modules, that offer clients robust liquidity concentration products, global account connectivity and enhanced reporting capabilities. BofA Merrill embarked on this multi-million dollar platform last year as part of the bank’s commitment to innovative technology for its treasury management and corporate banking clients.
“As the financial climate has changed, our clients have become increasingly savvy about their liquidity needs and cash concentration structure,” said Greg Kavanaugh, head of Global Liquidity, Pricing and Segment Integration at BofA Merrill. “The new Global Liquidity Platform gives clients access to a truly global product offering and enables the bank to bring new products to market faster and more efficiently. With a modular approach that operates through a single hub, we are eliminating dependency on multiple account platforms.”
The power of the new Global Liquidity Platform is evident with Interest Optimization, which BofA Merrill launched in April. Interest Optimization creates an end-of-day global position of client balances, which is important for client accounts held in multiple currencies in countries and regions around the world. Interest Optimization takes that global view of balances into consideration when determining interest benefit to the client.
“Bank of America Merrill Lynch is dedicated to delivering innovative global liquidity solutions to clients in a timely fashion,” Kavanaugh said. “This platform allows us to provide solutions to help our corporate and commercial clients do business across the globe.”
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
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