BNY Mellon Expands Payment Decision Service for Cross-Border Payments to Include Euro, GBP and AUD as Source Currencies
NEW YORK, Sept. 24, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, today announced the expansion of its Payment Decision Service, a fully automated offering that significantly enhances the ability of client banks to manage currency conversions while making cross-border payments.
Leveraging the high level of straight through processing efficiency and reliability that have made BNY Mellon a leader in USD-denominated payment clearing services, this enhancement expands Payment Decision Service to accommodate payments in Euros (EUR), British Pound Sterling (GBP) and Australian dollars (AUD).
Payment Decision Service automatically applies instructions agreed upon between BNY Mellon and the client as customized and automated filters, with the ensuing currency conversion and payment execution completed within the instruction guidelines. Client support is an important aspect of BNY Mellon's Payment Decision Service offering, with the service supported by a dedicated inquiry team that provides quick and seamless turnaround on all inquiries and investigations.
"The continuing evolution of Payment Decision Service reflects our disciplined approach to developing a fully integrated, best-in-class suite of cross-border solutions that meets the needs of both payers and financial institutions in today's global economy," said Susan Skerritt, executive vice president and global head of business strategy & market solutions for BNY Mellon's Treasury Services group.
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon Treasury Services delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.4 trillion in payments transactions on a daily basis, 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 treasury services solutions for banks and other large institutional clients.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.
SOURCE BNY Mellon