Bank of America: Transitioning From Spreadsheets to Predictive Treasury
Mark Monaco, head of Global Payments Solutions at Bank of America, which won a Most Innovative Digital Bank award, explains how to build digital speed and resilience through integrated payment solutions and real-time insights. The post Bank of America: Transitioning From Spreadsheets to Predictive Treasury appeared first on Global Finance Magazine .
How can banks merge disparate regional instant payment systems without overburdening treasurers as the G20’s 2027 deadlines loom? Mark Monaco explains that connecting payment rails in a simple, scalable manner is the key challenge. Corporate treasurers avoid juggling multiple domestic systems, one per market. They require banking partners to handle that complexity.
BofA offers cross-border, real-time payment capability, enabling clients to move high-volume, low-value flows efficiently with real-time tracking and local currency settlement. This flexibility lets clients opt for high-velocity domestic payout options while enjoying a centralized treasury approach. The goal is to expand payment options while decreasing operational hassle.
BofA also contributes to industry-wide efforts and partners with market infrastructures to tackle these issues. As new frameworks emerge, BofA utilizes its global reach to advance G20 objectives and facilitate smooth cross-border money transfers.
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