21 March 2018
visit www.nextgenbanking.co.uk

Bank of America Merrill Lynch to launch corporate Swift service bureau

26 October 2010  |  13136 views  |  0 keyboard

Bank of America is to create a global Swift Service Bureau to provide its corporate clients with outsourced access to the Swift financial messaging network.

The BAML Brueau will be operated and managed by vendor partner BankServ through a white label agreement and will provide software, hardware, and integration services for the bank's Fortune 1000 clients..

"BofA Merrill was one of the pioneering banks and a current leader in supporting corporate Swift connectivity," says Cindy Murray, ecommerce executive at BofA Merrill. "We have advised and supported some of our largest corporate clients in this complex effort, and now we can extend our advisory role by providing a cost-effective, reliable and secure service bureau alternative."

The Bureau uses middleware technology to perform the message transformation required for straight-through processing between any corporate back-office system and any number of banks, she says.

BankServ also provides the required Swift expertise, professional project management and implementation services, as well as round-the-clock technical support for ongoing upgrades, disaster recovery and general maintenance.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sun treasury works with BofA on ISO20022 payments messaging

Sun treasury works with BofA on ISO20022 payments messaging

02 October 2007  |  7170 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comVisit www.facebook.com/business/Visit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
12096 views 0 | 5 tweets | 4 linkedin
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
10322 views comments | 29 tweets | 39 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
9819 views comments | 10 tweets | 8 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
9172 views comments | 13 tweets | 28 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
9063 views comments | 14 tweets | 28 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job