BNY Mellon has been named Most Innovative Trade Bank and Best Bank Trade Services Provider in the Trade & Forfaiting Review (TFR) Excellence Awards for 2015. TFR’s awards are based on verified votes from its readers which include corporates, banks and other financial institutions involved in international trade finance.
TFR’s Most Innovative Trade Bank award was in recognition of the trade processing partnership BNY Mellon signed with Helaba and the G25, which represents some of Germany’s largest savings banks. BNY Mellon will help the banks attract new trade flows to and from Germany, by acting as a business entry point for Germany’s small and medium sized enterprises (SMEs) trading with the Asia-Pacific (APAC) region.
“The global trade landscape is constantly evolving and is no longer limited to large multinational corporations, so in order for banks to thrive, they need to deliver solutions which directly meet the needs of an ever evolving client base,” said Dominic Broom, head of Treasury Services EMEA at BNY Mellon. “This is why we are focusing on developing innovative solutions to meet the needs of high-growth client segments such as SMEs.”
“This partnership helps connect the famed Mittelstand with the fastest growing region in the world, through our network of correspondent banks in APAC,” added Broom. “We hope to use this as a template for other deals. Unlike many of our competitors we are able to act as an independent third party for our clients because we do not compete with them at a local market level. This, along with our global reach and our reputation for seamless client service, is a powerful proposition for clients.” BNY Mellon delivers investment management and investment services in 35 countries and more than 100 markets.
BNY Mellon won the gold award for Best Bank Trade Services Provider for the second consecutive year. “Maintaining high standards of operational and technical expertise in trade services is one of our strategic priorities,” said Anthony Brady, global head of Business Strategy and Market Solutions for BNY Mellon’s Treasury Services group. “Our market research has done a good job identifying for clients the changing patterns of service delivery in the banking industry, and we understand the importance they attach to continuity and reliability amidst the changes that are taking place.”
“Continuing to build on our strengths — global presence, extensive experience as a major provider of correspondent and transactional banking services, and a robust array of operational capabilities and proprietary technologies — has positioned us well for partnering with clients in the trade services space,” added Brady. “Positive feedback from an authoritative source like TFR that we’re delivering on our potential for our clients is extremely gratifying.”
TFR is a leading trade and supply chain finance information resource for professionals around the world. It covers topics such as structured trade and commodity finance deals, credit documentation, regulatory issues and political risk analysis.
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 processes payment transactions in over 120 currencies and is a top-five participant in both the CHIPS and overall funds transfer markets.