Bank of America Merrill Lynch has added new global physical cash concentration features to its technology platform for liquidity management for corporate and commercial clients.
The new features come after the platform, called the Global Liquidity Platform, was created in 2009 for the firm’s treasury management and corporate banking customers. The platform works to help enable the movement of funds domestically, as well as between regions, borders and banks.
With the expanded module for physical cash concentration, the platform has more than 30 parameters for liquidity that can be set on both an intraday and end-of-day frequency. It also allows customers to identify excess operating cash through consolidated cash positions.
In addition to liquidity, the platform also has modules for operational and product settings.
“With the investment we’ve made in establishing a single worldwide system, we are now in a position to rapidly deploy new and advanced liquidity tools and techniques as market trends and client requirements evolve,” Greg Kavanaugh, head of Bank of America Merrill Lynch’s Global Liquidity product team, said in a statement.
Lorie Konish writes for On Wall Street.