Bank of America Merrill Lynch (BofA Merrill) has launched new capabilities for its corporate clients doing business in Brazil. Brazil-Auto-Invest is a liquidity and investment product that automatically sweeps cash surpluses of Brazilian Real (BRL) into certificates of deposit (CDBs). Boletos Collections is a payments solution for the country’s most widely used billing method. The solutions are designed to help companies optimise their excess cash and working capital.
A corporate using Brazil-Auto-Invest has the potential to:
- Increase the earning potential of its BRL balances by using a fully automated process to earn returns on excess balances
- Tailor investment terms by investing in CDBs with durations that suit the company’s particular needs
- Receive comprehensive reporting that facilitates reconciliation and reporting.
Boleto Collections is designed to offer the following benefits:
- The ability to customise a collections programme and issue both registered and unregistered Boletos in BRL and US dollars.
- The possibility to retrieve Boletos by regular mail or email. The option to recalculate and reissue past-due Boletos online also in development.
- Corporates can issue Boletos through the bank’s set of file access solutions, CashPro Connect or CashPro Online.
- Corporates can reconcile and manage their receivables through reports delivered electronically through CashPro Connect or CashPro Online.