The Bank of New York Mellon today announced that it will be providing its Remit Worldwide private-label global remittance services solution to Apple Bank, the third largest savings bank in New York State, enabling Apple to provide worldwide remittance services to consumers at its retail banking locations.
Provided by The Bank of New York Mellon's Treasury Services group, Remit Worldwide(SM) is a robust private-label solution that enables customers of client banks to remit funds directly to beneficiaries overseas. A major form of cross border funds transfer, remittances represent an important growth opportunity for the banking industry.
"Providing services that respond to the broadest possible range of customer needs is key to our competitive strategy," said Jim Matera, Senior VP and Head of Retail Banking at Apple Bank. "We are confident that our customers will welcome what we are calling AppleGram(SM) and the opportunity to carry out remittance transactions in a secure, convenient banking environment."
"Apple is an outstanding example of how banks can use our private-label services to grow their business, delivering technology-rich products in an innovative, cost-efficient manner," said Al Briand, managing director and head of product management and business strategy with The Bank of New York Mellon's Treasury Services group. "Apple's extensive presence in the New York metro area makes remittances a perfect fit for their products and services portfolio," said Michael Bellacosa, Vice President, Payment Services with The Bank of New York Mellon. "We are extremely excited to have them as a Remit Worldwide(SM) client."