BofA Merrill Launches Platform to Enhance Global Liquidity Product
Bank of America Merrill Lynch (BofA Merrill) has created a platform to enhance the delivery of its global liquidity product offering. The Global Liquidity Platform is a centralised technology hub that enables the company to provide consistent, seamless and integrated liquidity solutions to clients around the world.
The new platform encompasses operational, liquidity and product-specific components 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.”