Bank of America
Bank of America (BofA) is an American multinational investment bank and financial services company headquartered in North Carolina, USA, with an investment banking headquarters in New York City, USA. It is the second-largest bank in the world by market capitalization after J.P. Morgan Chase.
BofA sees treasury roles shifting toward strategic advisory
BofA sees treasury roles shifting toward strategic advisory
Clients are holding more liquidity in Singapore amid uncertainty.
BofA to launch cross-border real-time payments via Swift and CashPro
It will connect with several real-time payment networks globally.
BofA’s Winnie Chen charts real-time payment path
Companies want simplicity and certainty as they move funds across borders.
BofA launches gen AI solution AskGPS using 3,200 internal documents
It is expected to help employees answer client queries faster.
Weekly Global News Wrap: Yes Bank ex-CEO charged; US banks cut rates
And a software used by Aussie banks’ is being tested for a possible teen social media ban.
Japan's first stablecoin unlikely to affect gov't bond demand
But it might lead to a boost in annual JGBs by around $1.88b.
Firms cut paper, seek speed in trade finance shift
Rapid onboarding lets firms pivot quickly as tariffs force changes in supplier markets.
BofA appoints new heads for Global Payments Solutions in APAC
Lin Guo and Kitty Yen are head of GPS China and GPS Taiwan, respectively.
Citi nabs BofA banker to lead Chinese banking operations
Wenjie Zhang will join Citibank (China) in July 2025.
BofA sees 60% surge in QR sign-ups for CashPro platform
CashPro has surpassed 2 million users globally.
BofA’s AI virtual assistant Erica halves IT service desk calls
It plans to incorporate gen AI in Erica for coding assistance and report synthesis.
Top 25 banks’ market cap rises 27.1% in Q4 2024
ICBC is APAC’s top bank in terms of market cap; DBS rises to 23rd spot.
Bank of America’s CashPro app set to hit $1t in payment approvals
The platform is reportedly used by around 40,000 companies globally.
BofA sees 51% rise in API use for real-time treasury needs
Business clients are using APIs to simplify onboarding and accelerate transactions.
BofA launches guaranteed FX rates with up to a 1-year tenor
The 1-year tenor is available in 37 currency pairs.
China push to stimulate consumption may need more time
For banks, the lower mortgage rates could hurt profits in the short term.
Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
And Wells Fargo is under investigation over issues in its AML programs.
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