AfE 2024
Transaction banking clients faced many challenges in 2023, mostly as a result of the rapidly shifting interest rate environment. That made it vital to have a banking partner that could supply reliable advice on liquidity management.
It also demanded innovation and quick thinking, as well as sophisticated and user-friendly online and mobile solutions. For continuing to achieve all this with aplomb, Bank of America wins the award this year for North America’s best bank for transaction services.
The bank already has an impressively interconnected offering in its transaction banking business, but in 2023 it took another step forward organizationally with the decision to bring together its global transaction services franchise with its enterprise payments unit to form global payment solutions (GPS), under the leadership of former enterprise payments head Mark Monaco.
The combined group is able to deliver a better payment experience for all clients, the bank argues.