BoNY enhances inquiry and reporting system for mass payments service
The Bank of New York, a global leader in treasury management services, has introduced an enhanced online inquiry and reporting solution that allows clients using the Bank's Global Mass Payments service to access a wide variety of reports on their international payments activities.
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The new solution is available through CA$H-Register Plus®, the Bank's Internet-based cash management system.
The Bank of New York's Global Mass Payments solution provides clients with a highly efficient and cost-effective method for making cross-border electronic payments, such as dividends, payroll, pensions and other employee benefit payments. By offering Global Mass Payments reporting and inquiry through the CA$H-Register Plus suite of services, the Bank provides clients the means to view the status of their files and transactions, as well as gain access to a historical archive for transaction inquiries.
"Our new on-line reporting and inquiry capabilities are designed to provide immediate, on-demand access to customer service and account activity, which can streamline our clients' ability to actively monitor their cross- border payments and increases the effectiveness and efficiency of our interaction with clients," said Eric Kamback, executive vice president and head of global payment & trade services at The Bank of New York.
The Bank offers its Global Mass Payments service to government agencies and to large corporations with pensioners or employees living or working internationally. Two corporations currently using the service are British Airways and Crown Agents.