Boston, January 31, 2019 – Bank of America Merrill Lynch rolled out Intelligent Receivables with the intent of helping its corporate clients dramatically improve their straight-through reconciliation of incoming payments and post their receivables faster. Without it, most companies are burdened by manual and costly processes that are both inefficient and an unnecessary strain on often already overstretched resources.

Aite Group’s Impact Innovation Awards are designed to recognize and celebrate innovation achieved by financial institutions leveraging technology to surpass the status quo. Award recipients are leading the industry by identifying and implementing new products, capabilities, or levels of automation and effectiveness that are bringing our industry one step closer to next-generation banking. Other reports in this series feature Aite Group’s Impact Innovation Award in Cash Management and Payments for reporting and analytics, customer experience, operational efficiency, digital channel capabilities, and product development by a small bank. To learn more about the topic covered in this report, please contact us at [email protected].

Clients of Aite Group’s Wholesale Banking & Payments service can download this eight-page Impact Innovation Award report.