Four years ago, a leading market research firm for financial institutions, FImetrix, undertook to identify based on extensive interviews with global industry leaders the banks worthy of designation as Distinguished Provider of Transaction Banking Services. BNY Mellon's Treasury Services business earned that distinction, and earlier this spring renewed it for the fourth consecutive year.
FImetrix's survey enables respondents to evaluate relationships with U.S. and Western European banks in support of their international cash and trade transaction service needs. Survey participants rate their leading provider on more than 20 attributes related to operational efficiency, customer service, technology, product range, and skill set of employees. Attributes with the greatest influence as customer satisfaction indicators are identified, and scores on these attributes are weighted on a regional basis based on a given region's contribution to World GDP.
Banks with above average Global Satisfaction Scores are designated as Distinguished Providers. BNY Mellon is one of only six banks to receive this designation as a USD transaction service provider.
"Payments are a key transaction banking service, and this distinction explains why the industry relies on us for leadership as the landscape for USD payments undergoes far reaching and fundamental changes," said Ian Stewart, executive vice president and chief executive officer of BNY Mellon's Treasury Services business. "We're committed to meeting that challenge and playing an important role in the development of new and innovative transaction banking solutions. We fully intend to maintain BNY Mellon's standing as the gold standard for client service in transaction banking services."
A recognized leader in global financial institution performance measurement, FImetrix has developed and implemented qualitative and quantitative market research studies that evaluate Bank-to-Bank and Bank-to-Corporate services in multiple currencies from all major financial regions in the world. More information is available at http://www.fimetrix.com/.
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimise cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets. BNY Mellon is also a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.