Treasury Management Internation Logo

BofA Merrill Promotes Paper to Electronic Conversion at Payments and Card Conference


NEW YORK – Last week in Miami, Bank of America Merrill Lynch hosted its annual conference on trends and developments in commercial cards and payment solutions.  The agenda of this year’s conference, entitled “Connect with what’s next,” highlighted the increasingly important role of electronic payments to assist companies with their working capital management. The conference included presentations by BofA Merrill experts as well as senior leaders from the payments industry, including corporations and state government agencies, who have successfully transformed their payments processes. It also provided an avenue for BofA Merrill to unveil new product innovations.

“Over the last few years, we’ve seen card-related solutions experience rapid growth as companies seek greater control and transparency over their expenses,” said Kevin Phalen, head of Global Card and Comprehensive Payables. “Today, we find ourselves in a new normal, where CFOs and corporate boards expect visibility into their day-to-day cash holdings as a way to manage exposure and maximize funding. The Payments and Card conference is an important forum for facilitating industry dialogue around the means by which companies in every region of the world can achieve these objectives.”

The conference included participation from more than 220 company representatives.  Attendees were invited to a number of panel discussions, breakouts and workshops around various topics, including:

·         Updates on the changing landscape of business-to-business payments with a specific focus on economic and regulatory impacts.

·         Sessions to help companies prepare for expanding their card program globally.

·         An overview of new and emerging payment technologies including CHIP and PIN and Mobile.

·         Evolving uses for commercial prepaid products across industries, with a particular focus on: energy and power; general industries; healthcare; consumer-retail; media and telecom; public sector, and higher education.

Among the industry experts who presented at the conference were Wayne Best, chief economist, Visa, Inc.; Dan Morrell, assistant treasurer, Walgreen Co.; and Jennifer Matey, operations manager, Supply Chain Management at Mayo Clinic. Ron Insana, business news journalist from CNBC and MSNBC, gave the keynote address 

The conference also provided an opportunity for BofA Merrill to promote its innovations and new capabilities, including:

·         New user interface for Works®. Launched earlier in the year, BofA Merrill demonstrated the design and navigational advantages of the new user interface of the proprietary card management software.

·         Receipts Imaging on Works®. With the new receipt image functionality, clients can now upload receipt images from their personal computer, and attach them directly to a transaction, expense report or reimbursement. 

·         Expansion of global footprint. The company recently announced plans to offer card solutions in new geographies in Europe and Latin America, including: Guatemala, Honduras, South Africa, Turkey and the United Arab Emirates.

“It’s critical that our innovations and expanded capabilities directly solve for the issues our clients are experiencing, and so we are very grateful for the time that our clients spent this week with us sharing their insights and challenges,” said Phalen. “We are committed to being a leader in the business-to-business and commercial card space, and continually introducing new products and services that address our client needs is fundamental to that goal.”

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...


Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...