Awards for Excellence 2018
Bank of America Merrill Lynch’s operations in western Europe over the last year have seen the bank develop its own structure to keep pace in a market that is both exciting and volatile, making it western Europe’s best bank for transaction services.
BAML covers each aspect of the treasurer’s business, taking into account the impact of evolving technology and regulations, while helping them to optimize their business at a time when treasurers are awash with liquidity. BAML’s focus on developing Europe has paid off, with a 22% increase in revenues for global transaction services EMEA in the last year.
Clients are seeking greater insight into their liquidity positions. In response, the bank created the Liquidity Express Virtual Account Management solution. Using virtual accounts, customers are able to consolidate funds denominated in sterling, dollars or euros from across a number of accounts into a single balance position. The platform was developed by the bank by combining elements of existing systems, meaning there was no need for customers to deploy additional software.
 |
| Matthew Davies, head of GTS EMEA, Bank of America Merrill Lynch |
The bank has been successful in finding smart ways to use technology to make treasurers’ day-to-day activities easier.