NEW YORK – Bank of America Merrill Lynch has been named winner of nine leading industry awards by financial trade publication Treasury Management International (TMI).
In TMI’s annual awards for Innovation and Excellence in Treasury for 2015, BofA Merrill’s Global Transaction Services business received the largest number of awards of all nominees globally. BofA Merrill was the only financial institution to be recognized in all three of TMI’s product categories: cash and liquidity management, payments and collection, and financial supply chain management.
BofA Merrill was awarded both for its global presence and specialist regional expertise in providing innovative treasury solutions to its clients. In addition to recognition for the “Best Card Solution” for the second consecutive year, the record number of awards BofA Merrill received from TMI includes:
- Best Bank for Cash & Liquidity Management – Global
- Best Bank for Cash & Liquidity Management – North America
- Best Bank for Cash & Liquidity Management – India
- Best Bank for Cash & Liquidity Management – ASEAN (Association of Southeast Asian Nations)
- Best Bank for Payments & Collection – North America
- Best Bank for Financial Supply Chain Management – North America
- Best Bank for Financial Supply Chain Management – India
- Best Bank for Financial Supply Chain Management – ASEAN
Writing about BofA Merrill’s achievements, TMI commented: “As its home market, few would be surprised at BAML winning these awards in North America, but the bank’s strengths in regions such as ASEAN and India are less well-known… The judges were unanimous in offering BAML the Global award for Cash and Liquidity Management…BAML was also one of very few banks to win a Technology award, and narrowly beat a number of other excellent submissions in the Card Solution category. The bank’s Purchase Control solution combines established purchasing card functionality with virtual cards, with impressive reporting, user controls and fraud prevention tools, with proven working capital advantages.”
Ather Williams, head of Global Transaction Services at BofA Merrill, said: “We thank TMI for recognizing the depth and scope of the treasury solutions we provide to our clients globally. We will continue to focus on providing value-added solutions and advice, including innovating to help solve our clients’ working capital needs in an increasingly digitized global marketplace.”