#United States #New York #Bank of America #Crisil Coalition Greenwich #CashPro

Bank of America Secures Leading Positions in Banking Performance

Feb 7, 2025 - Bank of America (BofA) has once again showcased its dedication to digital transformation and superior client engagement. The prestigious Crisil Coalition Greenwich acknowledged BofA’s efforts with multiple top rankings in its 2024 Digital Transformation Benchmarking Study. This recognition emphasizes the bank's continuous commitment to enhancing the client experience through its advanced digital banking platform, CashPro, which serves over 40,000 corporate and commercial clients globally.

Digital Excellence Through Innovation

Tom Durkin, the Global Product Head overseeing CashPro within BofA's Global Payments Solutions, expressed pride in the bank's performance, highlighting that these rankings mirror their unwavering focus on customer satisfaction. He further elaborated, "Our goal is to empower clients to accomplish more from their mobile devices, improved connectivity via our Treasury Management Systems (TMS) and Enterprise Resource Planning (ERP) system partners, and providing meaningful insights from their data." His sentiments were echoed by Lisa Clyde, head of Global Corporate Banking and Leasing, who reiterated the bank's investment in creating significant market leadership and comprehensive solutions for its clients.

Key Highlights from the Rankings

Each year, Crisil Coalition Greenwich evaluates various financial institutions and awards those that excel in categories such as digital channels, treasury management, and cash management. For the third consecutive time, BofA earned the top spot in:

• - Overall Leadership in Digital Channels
• - Mobile Application (CashPro App)
• - TMS and ERP Integrations
• - Online Portal Product Capabilities

In the payment and treasury management sector, the bank also achieved the number one rank in crucial metrics that enable businesses to operate seamlessly. This includes a top score for Analytics & Insights, Data Structure, Organization & Integration, and Merchant Card Services.

Corporate Banking Recognition

Bank of America has also achieved significant milestones in cash management and corporate banking awards issued by Crisil Coalition Greenwich:

• - Recognized as the Best Bank for Corporate Cash Management in both the U.S. and the UK.
• - Earned the title of Best Bank for Corporate Banking in the U.S.
• - Acknowledged as a Share Leader in the Corporate Banking and Cash Management market segments.

Moreover, BofA was commended as the Best Bank for Digital and Innovation in the corporate sector in the United States, reinforcing its stronghold in delivering effective and creative solutions to corporate clients.

The Future of Banking

The advancement of digital banking technology and the ongoing dedication to customer service enhancements symbolize the future trajectory of financial institutions, especially as competitive market landscapes evolve. Leaders within BofA maintain that the continued investment in data-driven solutions will enhance client interactions significantly.

Chris McDonnell, Head of Commercial and Digital Banking Analytics at Crisil Coalition Greenwich, commended BofA for its exceptional commitment to a superior digital banking experience, stating, "Bank of America sets a precedent for innovation, particularly in the integration of TMS and ERP systems, which play an essential role in improving customer service and ensuring client success."

In conclusion, Bank of America's stellar achievements in innovation, digital solutions, and banking services are integral components of its strategy to foster an environment where corporate clients thrive. As the financial landscape continues to adapt, BofA's forward-thinking approach and commitment to excellence position it firmly at the forefront of banking excellence.

About Bank of America

Bank of America, recognized as a global leader in financial services, provides a full suite of banking, investment, and risk management products tailored for individual clients, small to medium-sized businesses, and large corporations. With unmatched convenience, they service approximately 69 million consumers through thousands of financial centers and ATMs across the U.S. The bank also boasts a robust global reach that extends across more than 35 countries. For more information on recent developments at Bank of America or to receive alerts about company news, visit their newsroom online.