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News

BofA rolls out omni-channel cross-currency transactions approach

Friday 9 October 2020 13:41 CET | News

Bank of America has released an omnichannel offering that includes API and mobile connectivity in response to the imperatives of cross-currency transactions.

Many clients, including financial institutions, can now get direct access to more than 100 currencies and effectively trade anywhere and settle anywhere. For instance, a client could trade via API and settle via SWIFT, or trade online and settle via API, according to the official press release.

The new capabilities include:

  • FX Trading API that enables live trading with BofA’s global foreign exchange desk;
  • Guaranteed Rates API that holds rates for extended periods of time, up to 180 days;
  • FX Payments API that enables a company to bundle payments into one foreign exchange transaction or associate multiple payments with a single trade;
  • Settle API booked FX Trades via SWIFT FIN standard messaging;
  • Mobile access to expanded cross-currency payment capabilities via the CashPro app.

Source: Link


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Keywords: BofA, omni-channel, cross-currency, payments , transactions , Bank of America, CashPro app, app, financial institutions, API, mobile connectivity, trade, FX trades, FX trading
Categories: Banking & Fintech
Companies:
Countries: United States
This article is part of category

Banking & Fintech

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