BNY Mellon’s global payments infrastructure won The Banker’s Tech Project of the Year 2015 in the payments category.
Following the decision in 2011 to undertake a major investment to significantly enhance BNY Mellon's global payments capabilities, the new infrastructure went live with its first payment service offerings in January 2014. Since then, BNY Mellon’s London branch has significantly increased the number of global currencies it can provide, with the total expected to exceed 120 currencies over time.
“Our new infrastructure is enabling us to maintain BNY Mellon’s global payments leadership in a rapidly changing global banking environment,” said Michael Bellacosa, head of global payments for BNY Mellon’s Treasury Services business. “Staying ahead of the ‘faster, more efficient, and more data enriched’ service expectations of the marketplace is a win for us, for the clients whose payments we process, and for our relationships globally with our client banks.”
“Across an extensive array of innovative technology initiatives – our Global Innovation Centres, including Silicon Valley, big data collection and analysis, and integrated API-based solutions, to cite just a few – BNY Mellon is invested in leveraging technology to service our clients more efficiently and effectively,” adds Saket Sharma, Chief Information Officer for BNY Mellon's Treasury Services group. “Our new global payments infrastructure is a good example of how effective partnerships between our technology and business teams are improving the client experience and powering service enhancements which are at the heart of BNY Mellon’s client relationships.”
The Banker is read in over 180 countries and covers capital markets and structured finance, risk management, working capital management and securities services, environmental finance, trade and project finance, trading, technology and management and governance issues.
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.