BNY Mellon in new global payments infrastructure
New York, February 13, 2014
The Bank of New York Mellon (BNY Mellon), a global leader in investment management and investment services, began a new era in its treasury services business with the launch of a new global payments infrastructure.
The payments infrastructure has been designed to deliver significantly enhanced levels of processing efficiency, reliability, transparency and cash management oversight.
Focused initially on Euro clearing capabilities for BNY Mellon’s global clients, the new infrastructure will harness and extend its established strengths as a processor of US dollar-denominated payments across the extensive array of global currencies.
“The service enhancements we can now deliver to clients are the result of strategic, multi-year investment in our global payments infrastructure. They also reflect an extraordinary level of collaboration across the BNY Mellon enterprise” stated Ian Stewart, the CEO of Treasury Services group.
"Our entirely new, innovative payments infrastructure will allow us to deliver more broadly the high standards of reliability, efficiency and technological strength that have made BNY Mellon a leader in USD-denominated payments," stated Stewart.
He said that BNY Mellon’s wealth of experience, global presence and focus on client service have positioned it for growth in the payments space.
"By providing an even better payments experience for our clients, our new infrastructure will help power our growth in the payments services delivery space," he stated.
The new infrastructure brings leading edge levels of efficiency and information management integration to BNY Mellon’s global payments operations. It features an open architecture and custom-built modules covering the key phases of payment processing — including payment pricing and charges, account abstracts and lookup, liquidity monitoring and overall process surveillance.
“Our new global payments infrastructure is a strategically important development for businesses across BNY Mellon, because payments and fund transfers are integral to so many client relationships,” remarked Brian Shea, the president of Investment Services, and head of Client Service Delivery and Client Technology Solutions.
“That’s why collaboration across our business, client service delivery and client technology solutions teams played such a big part in the development of our new infrastructure," he added.-TradeArabia News Service