Corporate Clients Benefit From Streamlined, Customizable Funds Movement
Bank of America Merrill Lynch today announced it has expanded its Global Liquidity Platform, a centralized technology hub for liquidity management, to include enhanced 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 announced in October,, BofA Merrill now offers its corporate and commercial clients a fully integrated global liquidity management solution, covering domestic, cross-border, cross-region and multibank movement of funds, on its single Global Liquidity Platform.
“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 customize their liquidity structures to assist in meeting their cash needs around the world on both an intraday and end-of-day basis.”Through consolidated cash positions, clients are able to identify excess operating cash for additional investment opportunities, repatriation and paying down debt. The Global Liquidity Platform offers flexibility on the physical location of the BofA Merrill concentration account and supports all currencies in which BofA Merrill offers deposit accounts.
“Our Global Liquidity Platform and its fully automated cash concentration capabilities demonstrate Bank of America Merrill Lynch’s leadership in providing liquidity solutions to corporate and commercial banking clients,” Kavanaugh said. “In addition, with the investment we’ve made in establishing a single worldwide system, we are now in position to rapidly deploy new and advanced liquidity tools and techniques as market trends and client requirements evolve.”