BNY Mellon launches new global payments infrastructure
13 February 2014 | 2134 views | 0
Source: BNY Mellon
BNY Mellon, a global leader in investment management and investment services, today announced the beginning of a new era in its Treasury Services business with the launch of a new global payments infrastructure.
BNY Mellon's new global payments infrastructure is 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 BNY Mellon's established strengths as a processor of US dollar-denominated payments across the extensive array of global currencies that BNY Mellon supports as a major provider of global payments and foreign exchange services.
"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," said Ian Stewart, chief executive officer of BNY Mellon's 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. Our wealth of experience, global presence and focus on client service have positioned us 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."
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. Designed to provide a robust, centralized global operating model for payment processing in multiple regions in any supported global currency and settled via multiple payment channels, the new infrastructure will support clients across the BNY MelNY Mellon enterprise.
"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," said Brian Shea, president, 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. We're using that same approach to develop client solutions that include enhanced payment and fund transfer features. We're also focused on leveraging the full range of BNY Mellon's investment services capabilities -- especially in areas like custody, accounting, market data and information management, data analytics, and cash and liquidity management -- to make our Treasury Services solutions even more responsive to our clients' needs."