The new feature enables firms and consumers to make real-time transfers using BNY Mellon | Pershing's portal.
NEW YORK, Jan. 18, 2023 /PRNewswire/ -- BNY Mellon | Pershing announced today that it is integrating Real-Time Payments (RTP) technology into its NetXInvestor® platform, an investor portal used by broker-dealer and registered investment advisor firms to help clients manage their portfolios.
RTP is a new form of electronic money transfer that enables real-time deposits and withdrawals, giving broker-dealers and investors instant, 24/7/365, on-demand access to irrevocable and secure funds (subject to funds availability).
"Automation and efficiency are high priorities for investment professionals and consumers, so we are continually innovating and adding to our suite of digital payables and receivables functions for NetXInvestor®, like this BNY Mellon-developed RTP technology," says Ram Nagappan, CIO of BNY Mellon | Pershing.
BNY Mellon has been at the forefront of innovating in the digital payments space, including launching the first-of-its-kind real-time electronic billing and payment solution. The pioneering capability enables U.S. businesses to present digital bills to consumer clients in real-time and receive instant payment via their preferred online and mobile banking channels.
"We've seen incredible progress in client satisfaction since the launch of Real-Time Payments, plus it helps protect the environment by reducing the negative impacts of paper-based processes," says Carl Slabicki, Co-Head of Global Payments, Treasury Services, BNY Mellon. "This new application allows BNY Mellon to bring easy and accelerated money transfers to more of our clients and their investors."
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BNY Mellon | Pershing is a leading provider of clearing and custody services. We are uniquely positioned to help complex financial services firms transform their businesses, drive growth, maximize efficiency, and manage risk and regulation.
Wealth management and institutional firms outsource to us for trading and settlement services, investment solutions, bank and brokerage custody, middle and back-office support, data insights, and business consulting.
Pershing brings together high-touch service, an open digital platform and the BNY Mellon enterprise to deliver a differentiated experience for every client.
Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. With offices around the world, Pershing has over $2 trillion in assets and millions of investor accounts. Pershing affiliates include Albridge Solutions, Inc. and Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on pershing.com, or follow us on LinkedIn or Twitter @Pershing.
SOURCE Pershing, LLC