The realities of deploying a new payments system can be a daunting undertaking especially if, like most organizations, technology resources are scarce. Absent the allocation of technology for a full-scale “build and test” of the RTP or tokenized networks, it may be difficult for insurers to effectively evaluate the business applications that should be targeted and prioritized.
BNY Mellon can help by lowering the barrier to experiment with Immediate Payments and offering several methods to initiate RTP and tokenized transactions. Your evaluation process can follow these simple steps:
Keep in mind that the network you choose to test with might also be determined by the client/ vendor/payee information to which you have access. Ready access to previously captured banking information, email or mobile phone number details might drive the network choice in some instances.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally and may include The Bank of New York Mellon, 240 Greenwich Street, New York, New York 10286, a banking corporation organized and existing pursuant to the laws of the State of New York. Not all products and services are offered at all locations.
This information, which may be considered advertising, is for general information and reference purposes only and is not intended to provide legal, tax, accounting, investment, financial or other professional advice on any matter, and is not to be used as such. BNY Mellon does not warrant or guarantee the accuracy or completeness of, nor undertake to update or amend the information or data contained herein. We expressly disclaim any liability for any loss arising from or in reliance upon any of this information or data.
Trademarks and logos belong to their respective owners.
© 2019 The Bank of New York Mellon Corporation. All rights reserved.