Bank of America is to adopt Cable & Wireless Real Time Nostro (RTN) as a new platform for the provision of intra day nostro account information to its financial sector clients. This brings the number of leading financial institutions who have agreed to provide data to RTN to 11. Bank of America will be providing data on its US dollar accounts and all other major currencies served by its international branch network. The bank will use Cable & Wireless RTN to expand the delivery of account information to its institutional clients worldwide who subscribe to the service. Karen Healy, senior vice president, head of FI/FX product management, Global Treasury Services, Bank of America, said: “We recognise our clients’ growing need for efficient delivery channels, providing real time information and improving the reconciliation process. We want to expand our existing suite of real time information streams and are pleased to join with Cable & Wireless in this exciting initiative.”
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