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The future of cross-currency payments

Sean Willis, BAML

The landscape of cross-currency (FX) payments is taking on a whole new look – creating challenges for corporate financial managers and the need for new banking solutions.

Bank of America Merrill Lynch brings AI to accounts receivable

AI

Bank of America Merrill Lynch (BAML) is launching 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, reports Banking Technology‘s sister publication Paybefore. Intelligent receivables is designed for large or […]

Blockchain and Bitcoin round-up: 25 July 2017

No Bitcoin traded here

Don’t expect silence or tumbleweeds blowing down the street in the world of blockchain and Bitcoin. Our latest round-up features Microsoft, LedgerX and Bank of America Merrill Lynch. Microsoft is introducing enterprise smart contracts as it delves deeper into the blockchain arena. This announcement, in a long blog post, follows on from last year’s launch […]

Payments and blockchain: Pilotville

Blockchain and payments – Piltoville

The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.

Blockchain: the theme for 2016

Blockchain

Blockchain and distributed technology have been hot topics at Sibos this year, with a raft of announcements from banks and fintechs alike. One of the areas identified as of most promise is trade finance – an area of banking that is rife with paper-based processes.

Bank of America Merrill Lynch and HSBC team up for blockchain-based trade finance innovation

HSBC-Logo

Bank of America Merrill Lynch, HSBC and the Infocomm Development Authority of Singapore (IDA) have teamed up to develop a blockchain prototype for trade finance innovation. The consortium uses the distributed ledger framework provided by Linux Foundation’s open source Hyperledger Project; and the proof of concept has reduced manual processing in letter of credit transactions. […]

Rise of the megabanks

Four US megabanks

A great visual of how four US-based conglomerates – JPMorgan Chase, Citigroup, Wells Fargo and Bank of America Merrill Lynch (BAML) – have grown to be the megabanks we know today. Source: American Banker

BAML boosts EMEA GTS team with internal promotions

Peter Jameson 3

Bank of America Merrill Lynch has made a series of internal promotions in its EMEA Global Transaction Services team.

Banks back Swift KYC Registry initiative

luc_meurant

A group of major international banks have agreed to jointly develop and use the centralised Know Your Customer Registry announced by Swift at the start of the year.

Bank of America goes with Earthport for global low-value payments

Uberoi: the opportunity presented by efficient cross-border payments is almost limitless

Bank of America Merrill Lynch has signed a multi-year agreement with Earthport to “significantly expand Bank of America Merrill Lynch’s low value clearing capabilities globally, and to advance the efficiency of its high volume, low value payments”.

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