BoFA launches Global Liquidity Platform

9 July 2010

Bank of America (BofA) Merrill Lynch has announced the launch of its Global Liquidity Platform to offer clients “seamless and integrated” solutions.

According to the financial services provider, the new technology should improve the way in which its global customer-base access liquidity.

Work on the multi-million dollar platform was started by BoFA Merrill Lynch during 2009 and is aimed at customers from the corporate and treasury management sectors.

The platform incorporates interest optimization which provides customers with access to the position of balances held across a range of territories.

Greg Kavanaugh, head of Global Liquidity, Pricing and Segment Integration at BofA Merrill Lynch, said: “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."

Previously, BoFA announced it would be working with Accuity’s international bank account number conversion solution to help its client-base comply with changes to financial regulations related to the Single Euro Payment Area.

By Jim Ottewill

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