Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has announced the creation of its new Global Liquidity Platform, which is designed to improve the delivery of its global liquidity product offering.
The company said in a statement that the new offering is “centralized technology hub that enables the company to provide consistent, seamless and integrated liquidity solutions to clients around the world.” According to Bank of America Corp (NYSE: BAC), the Global Liquidity Platform encompasses “perational, liquidity and product-specific components, or modules, that offer clients robust liquidity concentration products, global account connectivity and enhanced reporting capabilities”.
“As the financial climate has changed, our clients have become increasingly savvy about their liquidity needs and cash concentration structure,” said Greg Kavanaugh, head of Global Liquidity, Pricing and Segment Integration at BofA Merrill. “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.”
“Bank of America Merrill Lynch is dedicated to delivering innovative global liquidity solutions to clients in a timely fashion,” Kavanaugh said. “This platform allows us to provide solutions to help our corporate and commercial clients do business across the globe.”
