Bank of America Merrill Lynch (BofA Merrill) has enhanced its wholesale banknotes platform, to provide clients with greater customization and improved functionality.
BofA Merrill’s global banknote services business facilitates the import and export of US dollars and other foreign currencies for financial institutions and corporates.
According to BofA Merrill, the new version of the Cruise Line Global Foreign Currency (GFC) Offline Application will allow better management of foreign currency on cruise ships, while ‘Live Rates’ capabilities within the GFC system will enable clients to retrieve currency rates in real time during currency transactions. Other enhancements this year will add currency images online and improve the bank’s internal efficiencies.
Paul Donofrio, head of global corporate banking at BofA Merrill, said: “Bank of America Merrill Lynch is a leading global provider of treasury services to financial institutions, corporates and governments. The enhancements to our banknotes business will help drive growth in key markets and enable us to provide full service, state-of-the-art integrated capabilities across paper and electronic products to our clients around the world.”