Bank of America Initiates Buy Rating on RELY’s Digital Payments Platform
Bank of America initiated coverage of RELY on February 10, assigning a Buy rating based on its digital cross-border payments platform. The research note highlights RELY’s technology-driven model as a catalyst for revenue growth in global money transfers.
1. BofA Initiates Buy Rating
On February 10, Bank of America began coverage of RELY with a Buy rating, marking its first analyst endorsement for the digital payments firm.
2. Analyst Rationale
The research note emphasized RELY’s platform for processing cross-border transactions, citing reduced settlement times and lower costs as key advantages.
3. Growth Outlook
Bank of America projects that expanding enterprise partnerships and increased transaction volumes across new corridors could drive double-digit revenue growth over the next 12–18 months.
4. Market Reception
The Buy initiation may draw heightened institutional interest, potentially boosting share liquidity and supporting a higher valuation range.