BNY Mellon, the global leader in investment management and investment services, today announced an expansion in its cross-border payment capabilities, with support now available for payment transactions in more than 100 currencies.
Reflecting strong collaboration between BNY Mellon's Global Markets and Treasury Services businesses, this enhancement of the company's cross-border payment capabilities for both corporate and financial institution clients significantly increases the currencies offered on BNY Mellon's Multicurrency Payments and iDeal Forex platforms.
"As a leader in USD-denominated payments, BNY Mellon has always relied on two key ingredients — its robust processing and clearing capabilities, and the strength of BNY Mellon's Global Markets business, to deliver quality products and services that satisfy our clients' needs," said J. David Cruikshank, executive vice president and chief executive officer of BNY Mellon's Treasury Services business. "This expansion in the currencies supported on our payment platforms leverages our strengths, and keeps pace with client demands in an increasingly global economy."
"Providing a broader range of alternatives and added flexibility demonstrates BNY Mellon's commitment to growing our product offerings and delivering an even better experience for our cross-border payment clients," said Mike Curran, executive vice president and head of FX Global Services.
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services business delivers high-quality performance in global payments, trade services, and cash management. The company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.