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BofA Merrill launches new transaction services capabilities in Brazil

Bank of America Merrill Lynch has announced the launch of new capabilities for corporate clients doing business in Brazil:

  • Brazil-Auto-Invest: a liquidity and investment product that automatically sweeps cash surpluses of Brazilian Real (BRL) into certificates of deposit (CDBs). 
  • Boletos Collections: a payments solution for the country’s most widely-used billing method. The solutions .

Brazil-Auto-Invest has the ability to:

  • increase the earning potential of its BRL balances by using a fully automated process to earn returns on excess balances
  • tailor investment terms by investing in CDBs with durations that suit the company’s particular needs
  • receive comprehensive reporting that facilitates reconciliation and reporting.

“While clients may already have access to account sweeping tools, a key differentiator of Brazil-Auto-Invest is its ability to offer full automation,” said Greg Kavanaugh, head of Global Liquidity, GTS. “The automated feature significantly improves the efficacy of the sweeping tool and further empowers a company’s treasury department to direct their attention to other matters.”

Boleto Collections offers clients many advantages including:

  • the ability to customize a collections program and issue both registered and unregistered Boletos in BRL and U.S. dollars (USD).
  • enhanced convenience. Clients can retrieve Boletos by regular mail or email, and will soon be able to recalculate and reissue past-due Boletos online
  • the ability to implement flexible issuance procedures. Clients can issue Boletos through the bank’s set of file access solutions, CashPro®Connect - a host-to-host file solution; or the bank’s online portal solution, CashPro Online
  • robust reporting. Clients can reconcile and manage their receivables through comprehensive reports delivered electronically through CashPro Connect or CashPro Online

Annali Duarte, head of GTS for Brazil commented, “In providing Boletos Collections via our online banking channel, we are aiming to provide clients with the ultimate ease and flexibility to process their global payments and receivables, and further their goal for more efficient and accurate cash management.”

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