Designation based on interviews by FImetrix, LLC, with senior level executives at more than 640 banks in nearly 100 countries
NEW YORK, May 5, 2014 — BNY Mellon, a global leader in investment management and investment services, has been designated for the second consecutive year as a Distinguished Provider of global transaction banking services. Based on a survey of global banks conducted by the market research firm FImetrix, the designation recognizes leading performers in the Global Transaction Services market space.
FImetrix survey respondents across six global regions were asked to evaluate U.S. and Western European banks that provide international cash and trade transaction services. Based on the results of interviews with executives at 646 banks in 97 countries, BNY Mellon was designated as a Distinguished Provider for USD-denominated transaction services. Renewing the distinction awarded to BNY Mellon last year when the survey was first conducted, the designation as Distinguished Provider for USD-denominated transaction services was awarded to BNY Mellon and five other banks.
To be eligible for consideration, providers have to be active in regions that cumulatively account for more than half of the total World GDP. The evaluations are based on 22 attributes related to operational efficiency, client service, technology, product range and employee skill sets. Leading attributes as prime indicators of client satisfaction are identified within each of the global regions, and providers are scored based on their ability to deliver high levels of client satisfaction in each region. Scores by region are then weighted based the region’s contribution to World GDP, and providers with higher than average Global Satisfaction Scores are designated as a Distinguished Provider.
“Our initial survey results were extremely well received last year by our client banks, and are now becoming an annual benchmark for the services banks need in building out their international payment, clearing, cash management and trading banking businesses,” said David Burnett, chief executive officer of FImetrix.
“Renewal of our Distinguished Provider designation underscores our strengths as a provider of USD-denominated transaction services,” said Ian Stewart, executive vice president and chief executive officer of BNY Mellon’s Treasury Services group. “As the rollout of our new global payments infrastructure continues, we’ll be applying across a growing array of major currencies the technological and financial strengths that have positioned us as a leader in USD payments. The end result will be better payment and fund transfer support for clients across all of BNY Mellon’s businesses, and significant growth opportunities for our Treasury Services group.”
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 optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. 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 private-label treasury services solutions for banks and other large institutional clients.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.