BNY Mellon has rolled out a new global payments infrastructure to offer enhanced levels of efficiency, cash management oversight and transparency.
The new infrastructure will be initially focused on Euro clearing capabilities for the firm’s global clients.
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According to BNY Mellon, the infrastructure will feature 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.
The payment infrastructure is designed to provide a centralized global operating model for payment processing in multiple regions in any supported global currency and settled through multiple payment channels.
BNY Mellon treasury services group CEO, Ian Stewart, said: "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.
"By providing an even better payments experience for our clients, our new infrastructure will help power our growth in the payments services delivery space."
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By GlobalDataInvestment services president and client service delivery and client technology solutions head, Brian Shea, said: "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.
"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."
