Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Trading

BNY MELLON EXPANDS GLOBAL PAYMENTS INFRASTRUCTURE
currencies dice on backgrou

Published : 9 years ago, on

By Adding Foreign Exchange Payments

New functionality will significantly increase straight-through processing rates for clients

LONDON and NEW YORK, September 9, 2015 – BNY Mellon, a global leader in investment management and investment services,has passed an important milestone in the continuing development of its global payments infrastructure with the launch of enhanced foreign exchange payment capabilities.

BNY Mellon’s Frankfurt and London branches have significantly increased the number of global currencies they can provide, with the total expected to exceed 120 currencies over time. Clients holding accounts in Frankfurt and London can use account balances in a single currency to instruct FX payments in various currencies as required.

Demonstrating BNY Mellon’s enterprise-wide approach to the development of new treasury services solutions, the new FX payments offering seamlessly combines BNY Mellon’s extensive FX capabilities with the speed, efficiency and reporting features of BNY Mellon’s new global payments infrastructure. Clients are provided with a host of payment initiation options, including BNY Mellon’s proprietary TreasuryEdgeSM electronic portal, EDI ASC X12, and SWIFT.

“This step continues the development of our new infrastructure and leverages its strengths as we look to build upon our leadership in global payment services,”said Michael Bellacosa, head of global payments product management for Treasury Services at BNY Mellon. “Partnering with BNY Mellon’s FX business to expand the range of supported currencies demonstrates how our technology investments and business strategy are delivering meaningful service improvements to help our clients succeed.”

“Our new global payments infrastructure is providing benefits to BNY Mellon clients that need to move cash across their investment activities,” added Frank Behlmer, executive vice president, global operations, with BNY Mellon’s Client Service Delivery group.“Our clients are now able to make FX payments seamlesslythrough our branches in London and Frankfurt.We are introducing new functionality for currency paymentsto enable us to better validate client instructions and increase straight-through processing rates.This will help us reduce third-party repair charges and increase the efficiency and speed of payment processing for clients across a broad range of investment services businesses.”

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post