Direct Clearing Capability for Pound Sterling-Denominated Payments Marks Another Major Milestone for BNY Mellon's New Global Payments Infrastructure
To address your increasing needs for greater transparency, comprehensive risk management and financial stability, BNY Mellon is in the process of introducing a new enterprise-wide global payments infrastructure. When fully rolled out, it will enable us to process any payment on a single platform, regardless of the initiation method, its value, currency, domicile, or clearing or settlement mechanism, and it will support payment transactions in more than 120 currencies.
Our European offices are the first to benefit from these expanded services. Our Frankfurt Branch offers EUR funds transfer services via TARGET2 clearing. Our London branch offers GBP funds transfer services cleared directly by CHAPS in addition to processing an increasing array of currencies. These expanding services provide new cash payments capabilities and add enhanced processing efficiencies and transparency including the flexibility to address current and future regulatory requirements. Our investment greatly complements our Treasury Services cash management and commercial payments offerings, which, in addition to the above, include USD funds transfer services and currency account services in greater than 50 currencies and FX payments in greater than 120 currencies.
BNY Mellon, a global leader in investment management and investment services, has been named best bank trade services provider in the Trade & Forfaiting Review (TFR) Excellence Awards for 2014. BNY Mellon also received a bronze award for most innovative trade bank.