Tuesday, 25 June 2024

Bank of America’s “Multicurrency Netting Program” recognised as Best Treasury Management Initiative

5 min read

By The Asian Banker

This initiative targeted minimizing intercompany FX transactions and gross exposures for a customer facing rising transactional costs and complex treasury processes post-merger. The bank shifted to a weekly netting cycle from monthly, offered guaranteed FX rates, and integrated an automated workflow solution with the customer's ERP. 

For reducing FX trade and settlement volumes by an average of over 85% and saving around 40-man hours weekly which boosted its treasury’s operational efficiencies, Best Treasury Management Initiative goes to Bank of America for "Multicurrency Netting Program".

View the full image gallery of the gala awards here

 



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