Bank of America upgrades its automated FX solution
The bank now does conversions on behalf of other banks with less resources.
Bank of America Merrill Lynch
Amazon teams with Bank of America for lendtech leap
Looking to expand its lendtech programme for small businesses that sell on Amazon’s websites.
Payments round-up: 23 January 2018
Features DBS Bank, Xero, WeChat Pay and Bank of America Merrill Lynch.
Sunlight Payments to “revolutionise” distribution for global philanthropic sector
Sunlight Payments, a US-based paytech start-up, says it has “successfully tested a new platform to enhance controls and accountability for philanthropic funding and grants”. The test was carried out with Pathfinder International, a women’s reproductive health non-governmental organisation (NGO) that works in 19 countries.
Corporate banking: clear sky thinking
Swift’s global payments innovation (gpi) has taken giant steps towards solving many of the challenges corporates have faced with cross-border payments.
The future of cross-currency payments
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.
Blockchain and Bitcoin round-up: 25 July 2017
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
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 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
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
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
Banks back Swift KYC Registry initiative
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
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”.
Markit masses support for open messaging service
Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.
