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Treasury Tools

Bank of America Merrill Lynch and BankServ; SWIFT; Incisive; American Express and SAP; SymSoft; Thomson Reuters

By staff Writer | Updated on November 02, 2010

Bank of America Merrill Lynch reached an agreement with Las Vegas, Nev.-based BankServ to provide a SWIFT service bureau for B of A’s corporate customers. The white labeled service bureau will supply software, hardware, and integration and transformation services. B of A and BankServ say that the service bureau in conjunction with the bank’s treasury services will let companies access SWIFT connectivity at a lower cost than connecting directly.

SWIFT, the not-for-profit bank messaging consortium, is rolling out a digital signature product, 3SKey. SWIFT says the product will simplify life for corporate treasurers with multiple banks by letting them use a single personal digital identity to manage all their banking relationships. 3SKey is compatible with SWIFT’s electronic bank account management solution. The product will be available first in Europe.

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