Cash And Trade Magazine For Cash and Trade professionals in the Middle East
NEW YORK – The Global Transaction Services business within Bank of America Merrill Lynch today announced the launch of a new user interface for Works®, the bank’s proprietary online program management tool for commercial card clients in the United States and Canada.
With more than 225,000 active users, the Works® platform helps companies manage all aspects of their card program – from individual card account setup, spending controls, account approvals and reconciliation to organization-wide expense reporting. The management tool supports card programs including Purchasing Cards, Travel & Entertainment Cards as well as the bank’s accounts payable online tool, ePayables.
The new state-of-the-art design improves the user experience by streamlining workflows and data presentation. It also promotes more efficient navigation and offers additional search and filter capabilities. The improved user interface is the latest in a series of strategic investments by the company in the Works® platform during the last three years.
“This multimillion dollar investment underscores our commitment to providing our card clients with leading products and services,” said Kevin Phalen, head of Global Card and Comprehensive Payables. “For many years, our clients have praised the industry-leading functionality of Works® and we’re pleased to leverage their valuable direct input in the redesign of the program’s user interface. The changes will have an immediate impact on our clients’ ability to effectively manage their card payments and overall working capital.”
The upgrade requires no data migration or systems conversion and clients can use existing log in credentials. Access to the new interface will be phased in beginning this month with clients who currently use Works®. A range of resources will be available to clients to help them navigate the improved Works®, including web-based and instructor-led training, educational videos, a new online help feature and refined online reference materials.
About Bank of America Merrill Lynch Commercial Card
Bank of America Merrill Lynch is a leading provider of card solutions to large and middle-market companies, globally, and to federal, state and local government entities in the United States. BofA Merrill’s Commercial Card group works with these organizations to design integrated ePayments solutions that help unlock working capital while increasing efficiency, visibility and control.
As part of the Global Transaction Services business, BofA Merrill’s Commercial Card and Comprehensive Payables group develops strategies and solutions that are closely aligned to the treasury goals of corporate, commercial and government entities.
BofA Merrill’s global card offering is available in more than 70 countries and 30 currencies. Cardholders can be served in numerous languages and have access to a worldwide network of more than 34 million credit card merchants and ATMs.
For more information regarding BofA Merrill’s card solutions, please visit http://corp.bankofamerica.com/business/ci/card-solutions.
Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 53 million consumer and small business relationships with approximately 5,500 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
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