BofA Merrill Launches New Transaction Services Capabilities in Brazil

Brazil-Auto-Invest and Boletos Collections Latest in New Products

Business Wire


Bank of America Merrill Lynch, a leader in global transaction services, today announced the launch of new capabilities available to corporate clients doing business in Brazil. Brazil-Auto-Invest is a liquidity and investment product that automatically sweeps cash surpluses of Brazilian Real (BRL) into certificates of deposit (CDBs). Boletos Collections is a payments solution for the country’s most widely-used billing method. The solutions help companies optimize their excess cash and working capital.

“We are very pleased to expand our local transaction services with Brazil-Auto-Invest and Boletos Collections,” said Juan Pablo Cuevas, head of Global Transaction Services (GTS) for Latin America and the Caribbean. “The new capabilities demonstrate our commitment to serving clients in Brazil with top tier treasury products and services.”

A client using Brazil-Auto-Invest has the ability to:

  • Increase the earning potential of its BRL balances by using a fully automated process to earn returns on excess balances.
  • Tailor investment terms by investing in CDBs with durations that suit the company’s particular needs.
  • Receive comprehensive reporting that facilitates reconciliation and reporting.

“While clients may already have access to account sweeping tools, a key differentiator of Brazil-Auto-Invest is its ability to offer full automation,” said Greg Kavanaugh, head of Global Liquidity, GTS. “The automated feature significantly improves the efficacy of the sweeping tool and further empowers a company’s treasury department to direct their attention to other matters.”

Boleto Collections offers clients many advantages including:

  • The ability to customize a collections program and issue both registered and unregistered Boletos in BRL and U.S. dollars (USD).
  • Enhanced convenience. Clients can retrieve Boletos by regular mail or email, and will soon be able to recalculate and reissue past-due Boletos online.
  • The ability to implement flexible issuance procedures. Clients can issue Boletos through the bank’s set of file access solutions, CashPro® Connect; a host-to-host file solution; or the bank’s online portal solution, CashPro Online.
  • Robust reporting. Clients can reconcile and manage their receivables through comprehensive reports delivered electronically through CashPro Connect or CashPro Online.

“We’re excited to launch a tailored solution to address the needs of our clients doing business in Brazil,” said Annali Duarte, head of GTS for Brazil. “In providing Boletos Collections via our online banking channel, we are aiming to provide clients with the ultimate ease and flexibility to process their global payments and receivables, and further their goal for more efficient and accurate cash management.”

Over the last four years, BofA Merrill has invested more than $1.2 billion in its GTS platform. Brazil-Auto-Invest is the latest in a series of new products and services the bank has launched in Brazil, and follows the recent introduction of Controlled Account services that regulates the exchange of cash (for BRL transactions) among multiple parties based on agreed upon contractual provisions.

BofA Merrill has more than 75 years of experience in Latin America, and its GTS platform provides a suite of transaction services, including liquidity management, payments and receipts, trade and supply chain finance, foreign exchange, commercial card, and custody and agency services corporations, bank and non-bank financial institutions and government agencies.

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile 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 (BAC) 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 and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Copyright 2013 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.

Visit the Bank of America newsroom for more Bank of America news.

Ouvidoria Bank of America Merrill Lynch¹ | DDG: 0800 886 2000 | e-mail:

¹ Bank of America Merrill Lynch Banco Múltiplo S.A. e Merrill Lynch S.A. Corretora de Títulos e Valores Mobiliários

Reporters May Contact:
Louise Hennessy, Bank of America Merrill Lynch, 1.646.858.1403


View Comments (0)