Foreign Exchange (FX) Rate Guarantee Builds on Multi-Currency Settlement Product
Bank of America Merrill Lynch (BofAML) announced today that CashPro® Flow, its foreign exchange (FX) rate guarantee product, is now available to clients of leading global payments processor, Bank of America Merchant Services and its European entity, BofA Merrill Lynch Merchant Services. This product will be offered alongside Bank of America Merchant Services’ existing multi-currency settlement product – Dynamic Currency Conversion.Large volumes of local-currency payables and receivables canmore...
Clients Can Receive Funds an Estimated 25 Percent Faster
Bank of America Merrill Lynch’s recent technology investmentin end-to-end lockbox operations has improved its speed of processing from the time of receipt to the time of deposit by 25 percent, and the rate of straight-through automation to more than 70 percent. These metrics are important indicators of BofA Merrill’s commitment to help companies by processing paper payments as efficiently and accurately as possible, and ultimately help them optimize their working capital."While today’smore...
Expansion Follows Successful First Six Months in Partnership With Self-Help and Freddie Mac to Promote Responsible Lending
Bank of America, in partnership with Self-Help Ventures Fund and Freddie
Mac (OTCQB: FMCC), announced the doubling of its annual commitment to
its Affordable Loan Solution™ mortgage program from $500 million to $1
billion, ensuring continued support for an innovative mortgage program
that has provided more than 90 percent of its recipients first-time
“Since our introduction in February, the Affordable Loanmore...