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Bank of America Wins Two American Financial Technology Awards From Waters Magazine

Technology Initiatives Benefiting Customers and Clients Receive Honors for Best Integration and Infrastructure

Wednesday, December 18, 2013 3:00 pm EST

Dateline:

New York
"successfully combining technology such that the end result is stronger than the sum of its parts."

Bank of America was recognized recently for two innovative technology initiatives that benefit customers and clients, winning two awards at the 9th annual American Financial Technology Awards (AFTAs). Merrill Lynch’s investment advisory platform, Merrill Lynch One, was named “Best IT Integration Initiative.” The company’s Sunrise platform, which provides on-demand Infrastructure-as-a-Service (IaaS) resources to internal business partners, won for “Best Infrastructure Initiative.”

Hosted by Waters magazine and WatersTechnology.com, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities. The AFTAs are judged by a panel of senior IT leaders from leading investment management firms and members of Waters’ editorial staff.

Merrill Lynch One improves the ability of financial advisors to deliver investment advice and solutions to clients, and gives clients and advisors access to Merrill Lynch’s investment advisory program through a single set of workflows, fees, paperwork and communications. A criterion for its award was “successfully combining technology such that the end result is stronger than the sum of its parts.” The platform brings the firm’s five managed solution programs together into a single platform and navigation site.

In addition to creating tremendous efficiencies, Merrill Lynch financial advisors using the platform can more easily design and manage customized, goals-based investment solutions with the flexibility to set asset allocation and manager selection within model portfolios. The phased rollout to Merrill Lynch’s more than 14,000 advisors nationwide began in September 2013 and will continue throughout 2014.

Bank of America’s Sunrise platform has improved internal IT processes and practices that inhibit global IT efficiency. It enables on-demand, self-service provisioning of IaaS resources to help manage applications in a more systematic and controlled fashion while enhancing the user experience and improving the bank’s risk profile for application deployment. The Sunrise platform reduces costs through shared resources and enables the bank to accelerate time to market for new products.

 

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Bank of America’s Merrill Lynch makes available products and services offered by Merrill Lynch Pierce Fenner & Smith (“MLPF&S”) and other subsidiaries of Bank of America Corporation. 

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Matt Card, Bank of America, 1.617.434.1388
matthew.card@bankofamerica.com
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mark.pipitone@bankofamerica.com