BofA Merrill Adds Physical Cash Concentration to Global Liquidity Platform
Bank of America Merrill Lynch (BofA Merrill) has expanded its Global Liquidity Platform, a centralised technology hub for liquidity management, to include global physical cash concentration capabilities. Clients now have more options, increased efficiency through automation and sophisticated information reporting to more easily and effectively move funds between their bank accounts in many countries worldwide.
Coupled with the multi-bank cash concentration product launched in October, BofA Merrill now offers its corporate and commercial clients an integrated global liquidity management solution, covering domestic, cross-border, cross-region and multibank movement of funds.
“Our enhanced physical cash concentration module provides our clients global consistency in an automated end-to-end solution for liquidity management,” said Greg Kavanaugh, head of BofA Merrill’s global liquidity product team. “We offer clients more than 30 selectable parameters, so they can customise their liquidity structures to assist in meeting their cash needs around the world on both an intraday and end-of-day basis.”