NEW YORK, November 7, 2011 — BNP Paribas Corporate and Investment Bank and BNY Mellon today announced an agreement that will enable BNP Paribas to expand its suite of global Cash Management solutions to include U.S. Cash Management services.
"As a global leader in transaction banking, we recognized the need to provide world-class cash management solutions in the U.S." said Walid Shuman, Head of Cash Management Americas for BNP Paribas. "Leveraging BNY Mellon's technology and product strength in innovative treasury services will allow us to build on our global cash management relationships and provide our clients with solutions that will further address their needs in the U.S. market."
The agreement enables BNP Paribas to private label BNY Mellon's technologically robust payables and receivables services including controlled disbursement, lockbox, and payment outsourcing. The agreement includes the creation of a seamless interface between BNP Paribas and BNY Mellon's systems and platforms. "We are confident this is the right strategy for us and our clients, especially in today's challenging business environment," added Mr. Shuman.
"Helping client banks succeed in a transactional ecosystem with ever increasing connectivity and technology requirements has been a longstanding strategic focus for BNY Mellon," said J. David Cruikshank, executive vice president and chief executive officer of BNY Mellon Treasury Services. "BNP Paribas has a well deserved reputation for global scale, operational excellence and commitment to client service. We look forward to developing with BNP Paribas a strong level of support for their treasury services clients and adding an exciting new dimension of excellence to our delivery of private label solutions."
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the best rated banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
*Rated AA- by Standard & Poor's.
About BNY Mellon
With locations on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.6 trillion in payments transactions on a daily basis, the company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of white-label treasury services solutions for banks and other large institutional clients.
BNY Mellon, the global leader in investment management and investment services, BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.9 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com and through Twitter@bnymellon.