BNY Mellon Expands Cross-Border Payment Capabilities to Include More Than 100 Currencies
Expansion extends the reach of BNY Mellon's strengths in foreign exchange and payment processing
NEW YORK, Sept. 16, 2013 /PRNewswire/ -- 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.
BNY Mellon Global Markets includes BNY Mellon's Foreign Exchange and Derivatives businesses together with the securities businesses of BNY Mellon Capital Markets, LLC, an SEC registered broker dealer1 and BNY Mellon Capital Markets EMEA Limited2. These businesses provide products for corporate, institutional and high net worth investors to access liquidity, execute investment and hedging requirements, and manage risk. BNY Mellon's derivatives business offers hedging products based in the interest rate, currency and equity markets, and BNY Mellon Capital Markets, LLC underwrites and transacts on Exchange and over the counter markets in a broad range of debt and equity securities.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2013, BNY Mellon had $26.2 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.
1. BNY Mellon Capital Markets, LLC is an indirect-wholly-owned subsidiary of The Bank of New York Mellon Corporation and a member of FINRA and SIPC.
2. BNY Mellon Capital Markets EMEA Limited is an indirect non-bank, broker-dealer subsidiary of The Bank of New York Mellon Corporation and is regulated by the Financial Conduct Authority.
SOURCE BNY Mellon
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