The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

The world’s best bank for payments and treasury 2021: Bank of America

Technology keeps BofA at the vanguard of payments. Covid-19 drove both deposits and innovation at the US bank.

For Bank of America’s global transaction services (GTS) business, the Covid-19 pandemic delivered payback on its decade of investment in digital technology. The bank’s GTS business is a hub of investment in new and emerging technologies within the bank – investing more than any other business in its global banking and markets division. Having a roughly $14 billion bank-wide annual global technology and operations budget, $3.5 billion of which is dedicated to new initiatives, certainly helps in this regard.

“The technology around transaction services has become more complex: the end users of this technology are also consumers and their expectations around functionality and ease of use are driven by their technology experience in their personal lives,” observes Matthew Davies, head of global transaction services in Europe, Middle East and Africa and global co-head of corporate sales, GTS at BofA.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree