BankServ and Bank of America Merrill Lynch (BAML) have teamed up to create a global SWIFT service bureau solution for the bank’s clients worldwide.
BAML’s Global SWIFT Service Bureau will be operated and managed by BankServ through a white label agreement and will provide a suite of software, hardware, and integration and transformation services that are highly scalable and flexible. By offering a comprehensive service bureau solution in conjunction with treasury banking services, BAML and BankServ will enable companies to achieve the benefits of SWIFT connectivity at a substantially lower cost than direct connectivity.
“BofA Merrill was one of the pioneering banks and a current leader in supporting corporate SWIFT connectivity,” said Cindy Murray, e-commerce executive at BAML. “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.”
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