CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America Merrill Lynch (BofA Merrill) today announced enhancements to its wholesale banknotes platform that will provide clients with greater customization and improved functionality, demonstrating the bank’s strong commitment to Global Banknote Services.

BofA Merrill’s Global Banknote Services business facilitates the import and export of U.S. dollars and other foreign currencies for financial institutions and corporates. It also supports such industries as hospitality, cruise lines, gaming and theme parks. Building on its leading position in the industry, BofA Merrill has developed several enhancements that will provide more efficiency, security and flexibility for clients.

The new version of the Cruise Line Global Foreign Currency (GFC) Offline Application allows more efficient management of foreign currency on cruise ships, while “Live Rates” capabilities within the GFC system will enable clients to retrieve currency rates in real time during currency transactions. Other enhancements this year will add currency images online and improve the bank’s internal efficiencies.

“As one of the world’s leading providers of global banknote services to financial institutions, Bank of America Merrill Lynch is dedicated to giving our clients the highest level of service,” said Kathleen Gowin, Global Wholesale Banknotes executive and head of Americas Financial Institutions Treasury Sales at BofA Merrill. “These enhancements show our commitment to banknote services, and our global footprint allows us to provide clients with all tradable currencies.”

BofA Merrill provides banknote services in more than 75 countries, with an inventory of 120 currencies and several strategically located foreign currency vaults, which are electronically connected to expedite access worldwide. The bank also has extensive relationships with several central banks and other large foreign financial institutions, which leverage BofA Merrill’s global infrastructure to reduce their own commitments of capital and human resources.

“Bank of America Merrill Lynch is a leading global provider of treasury services to financial institutions, corporates and governments,” said Paul Donofrio, head of Global Corporate Banking at BofA Merrill. “The enhancements to our banknotes business will help drive growth in key markets and enable us to provide full service, state-of-the-art integrated capabilities across paper and electronic products to our clients around the world.”

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

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