BofA Merrill Enhances Wholesale Banknotes Business
Bank of America Merrill Lynch (BofA Merrill) has enhanced its wholesale banknotes platform that will provide clients with greater customisation and improved functionality.
BofA Merrill’s Global Banknote Services business facilitates the import and export of US dollars and other foreign currencies for financial institutions and corporates. It also supports such industries as hospitality, cruise lines, gaming and theme parks.
The new version of the Cruise Line Global Foreign Currency (GFC) Offline Application allows more efficient management of foreign currency on cruise ships, while ‘live rates’ capabilities within the GFC system will enable clients to retrieve currency rates in real time during currency transactions. Other enhancements this year will add currency images online and improve the bank’s internal efficiencies.
“As one of the world’s leading providers of global banknote services to financial institutions, Bank of America Merrill Lynch is dedicated to giving our clients the highest level of service,” said Kathleen Gowin, global wholesale banknotes executive and head of Americas financial institutions treasury sales at BofA Merrill. “These enhancements show our commitment to banknote services, and our global footprint allows us to provide clients with all tradable currencies.”