Bank of America and Bolero Collaborate on Corporate Multi-banking Solution
Bank of America has announced an agreement with Bolero International to provide its multi-banking solution to the bank’s customers. The alliance will provide corporates with a platform they can use across multiple banking relationships for trade finance activity and will form part of Bank of America’s extensive trade services offering. Bank of America hopes that the platform will allow its customers to automate the lifecycle of instruments such as letters of credit, providing cost and time savings through automation. By creating efficiency in the trade finance process, corporates can eliminate errors and manage working capital more effectively.