Commercial and Middle Market Banking

4/30/20 10:15 am EDT

Today, Bank of America released its Task Force on Climate-related Financial Disclosures (TCFD) Report, reflecting its support for disclosure and transparency of climate-related business risks and its focus on ensuring climate-related risks and opportunities are properly managed within its business. The company’s TCFD Report articulates how it evaluates the impact of climate change on its business, effectively manages those risks, and continues to enhance its understanding of how to measure and model climate-related risks and their potential significance.

“At Bank of America, our more...

2/20/20 9:00 am EST

Bank of America Community Development Banking (CDB) provided a record $4.88 billion in loans, tax credit equity investments, and other real estate development solutions, surpassing last year’s record of $4.7 billion. CDB delivers innovative financing solutions to help create affordable housing for individuals, families, seniors, students, veterans, the formerly homeless, and those with special needs. These efforts are part of the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs).

Bank of America more...

11/15/19 10:00 am EST

Bank of America today announced it has invested more than $131 million this year in affordable housing in Greater Washington, D.C., bringing the total to $560 million in debt and equity financing since 2016. The bank’s most recent investment was on display at a groundbreaking for Randle Hill, a 195-unit affordable multifamily housing development in the Congress Heights neighborhood, for which the bank has invested $41.5 million in debt and equity with the Enterprise family of companies and Community Preservation and Development Corporation (CPDC more...

11/5/18 11:00 am EST

Bank of America Merrill Lynch today announced its upcoming addition of document exchange and e-signature capabilities in CashPro® Assistant, an online bank administration tool that helps commercial and corporate clients more easily conduct standard account management transactions as well as access and analyze their banking information.

Exchanging documents and enabling electronic signing over the authenticated CashPro platform simplifies a cumbersome paper-based process. Examples of documents to be exchanged and signed include know-your-customer, legal agreements, account opening more...

2/15/18 9:00 am EST

Bank of America Merrill Lynch Community Development Banking (CDB) had a record-setting year in 2017, providing $4.53 billion in loans, tax credit equity investments and other real estate development solutions. It deployed $3.04 billion in debt commitments and $1.49 billion in new equity investments to help build strong and healthy communities by financing affordable housing, charter schools, health care and economic development across the United States.

As the need for affordable housing and services continues to grow, CDB more...

11/15/17 9:00 am EST

Bank of America Merrill Lynch today launched Card Assistant, a digital tool that transforms the way information and education are delivered to its global commercial card clients. Card Assistant enables time-pressed program administrators to access industry and product updates, informative webcasts, fraud prevention tips, case studies and reference information in one convenient place.

The launch of Card Assistant follows the successful introduction of more...

10/17/17 9:00 am EDT

 

Bank of America Merrill Lynch today launched CashPro® Assistant, which uses artificial intelligence and predictive analytic capabilities to help commercial and corporate clients easily access and analyze their banking information. CashPro Assistant delivers a differentiated experience for all CashPro clients.

Central to the experience is CashPro Assistant more...

8/22/17 9:00 am EDT

Matching incoming payments with invoices has long been a frustration for companies. Many valuable hours are spent trying to determine who's paying for what. Today, Bank of America Merrill Lynch is pleased to announce a new solution – Intelligent Receivables – that uses artificial intelligence (AI) and other software to help companies vastly improve their straight-through reconciliation (STR) of incoming payments to help them post their receivables faster.

Intelligent Receivables is designed for large or complex companies that are seeking to reduce costs, decrease days-sales- more...

7/12/17 10:00 am EDT

Once again, Bank of America Merrill Lynch (BofA Merrill) saw its commercial card business reach a new benchmark, according to the annual ranking of U.S. purchase volume for the 2016 calendar year recently published in The Nilson Report, a card payments industry publication.

BofA Merrill processed $56.3 billion in U.S. purchases in 2016 across three categories – purchasing cards, corporate cards and prepaid cards, a 9.2 percent increase over 2015. This total enabled BofA Merrill to maintain its No. 1 ranking in the combined more...

3/8/17 10:00 am EST

Treasury Management International (TMI), a publication covering the transaction services industry, has named Bank of America Merrill Lynch its 2016 Global Bank of the Year for Payments & Collections. BofA Merrill won seven additional awards, all part of TMI’s annual Awards for Innovation and Excellence.

BofA Merrill was especially strong in the Payments & Collections category, winning three regional or country awards in addition to the global recognition. The full list of BofA Merrill awards is:

  • Global Bank of the Year for Payments & Collections

  • more...
2/14/17 9:30 am EST

Bank of America Merrill Lynch Community Development Banking (CDB) provided nearly $4 billion in loans, tax credit equity investments and other real estate development solutions to create housing for individuals, families, veterans, seniors and the previously homeless across the United States in 2016. This effort included:

  • $2.7 billion in debt commitments, including $36 million in FHA loans.
  • $1.2 billion in new equity investments more...
10/24/16 9:11 am EDT

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 more...

7/19/16 9:00 am EDT

Bank of America Merrill Lynch’s commercial card payment solutions have gained in importance to the firm’s clients, as reflected in transaction volume rankings for calendar year 2015 that were recently published in the Nilson Report, which covers card payment systems worldwide.

BofA Merrill continues to be the No. 1 provider of purchasing card solutions, which includes physical purchasing cards along with related virtual card solutions. The firm improved from No. 3 to No. 2 in corporate cards and from No. 5 to No. 4 in commercial prepaid. BofA Merrill is the only global bank that more...

7/6/16 6:30 pm EDT

Euromoney this week named Bank of America the World’s Best Bank in two key areas: financing and diversity. This is the inaugural year for both awards, and the wins reflect the bank’s strategy to serve customers, clients and shareholders through the power of its diverse, global workforce.

In speaking about why the company was awarded the Best Bank for Financing, Euromoney remarked how over the past 12 months, Bank of America Merrill Lynch has demonstrated its ability to deliver certainty in execution and the right mix of financing, advice and products to clients, regardless of market more...

2/23/16 9:00 am EST

Bank of America Merrill Lynch has been named winner of nine leading industry awards by financial trade publication Treasury Management International (TMI).

In TMI’s annual awards for Innovation and Excellence in Treasury for 2015, BofA Merrill’s Global Transaction Services business received the largest number of awards of all nominees globally. BofA Merrill was the only financial institution to be recognized in all three of TMI’s product categories: cash and liquidity management, payments and collection, and more...

2/1/16 9:00 am EST

Bank of America Merrill Lynch Community Development Banking (CDB) provided a record-setting $4.5 billion in equity and lending, the most in a single year in its more than 30-year history.

In 2015, the Community Development Banking group also completed its single largest transaction – the San Francisco Rental Assistance Demonstration (SF-RAD). The bank provided $770 million as investor and lender on the deal, which will transform more than 1,400 public housing units at 15 properties into safe and sustainable low-income more...