Leda Glyptis, head of EMEA Innovation Centre, BNY Mellon, was a panelist on the “Platform Disruption: The Business of APIs” session at Sibos on Monday, October 12. Commenting on APIs, Glyptis says: “Adopting a new digital-based platform is a significant undertaking, and the journey a bank needs to take to unbundle its financial services is complex, lengthy and involved. Yet the growing sophistication of digital technology and the speed with which innovation is taking place is resulting in ever-increasing client demand for user-friendly, easy-to-access, attractive solutions and simultaneously for the frictionless and user-driven experience of consuming services through APIs. Banks therefore need to prioritize the adoption of a client-centric approach, offering digital capabilities to enhance users’ transaction experience – with robustness and flexibility that can help businesses adapt to change and evolving demands, and expand faster in this new digital world.
“BNY Mellon is in the process of developing a company-wide, transformative initiative that will create considerable added-value for clients,” explains Glyptis. “NEXEN – our new, one-stop-shop digital portal – will enable clients to view and access all their information from across BNY Mellon in one place. This technology, along with a multitude of APIs that are being incorporated allows all client information to be seamlessly integrated onto one model, meaning clients will no longer be required to log in to separate portals. We are industry leaders in this respect. Furthermore, not only will NEXEN enable clients to access their entire BNY Mellon footprint, it allows clients to utilize and leverage the data it holds, therefore providing significantly enhanced cash management capabilities.”