Global Finance magazine's 2011 Best Treasury & Cash Management Awards recognize BNY Mellon for Enterprise Treasury Services excellence
NEW YORK, February 2, 2011 — For the fourth consecutive year, BNY Mellon has been recognized as Best White-Label System Provider in Global Finance magazine's annual survey of treasury and cash management providers. Recognition of BNY Mellon's top ranking as a treasury services provider to client banks will appear in the March, 2011 issue of Global Finance magazine.
Leveraging BNY Mellon's product expertise and technological strengths in the treasury services space, BNY Mellon's Enterprise Treasury Services group enables clients to enrich their portfolios of product and service offerings while minimizing costs associated with product development and platform and system enhancements. Services are provided to client financial institutions in a variety of forms, ranging from private label processing solutions to full operations outsourcing. White-label services include wholesale and retail lockbox, electronic bill presentment and payment, positive pay/payee, controlled disbursement, remote check deposit/lockbox, information reporting, and other cash management services; letters of credit, open account solutions, and other trade finance services; direct remittance services; item processing, foreign check collections, and other correspondent banking and clearing services; and AP outsourcing and other value added services.
"Maintaining our leadership as a provider of white-label services to other banks and financial institutions has been a strategic priority for BNY Mellon since the debut of our Enterprise business for North American clients more than 20 years ago," said J. David Cruikshank, executive vice president and chief executive officer of BNY Mellon Treasury Services. "Small and mid-size banks are showing growing interest in treasury services as a growth opportunity, and they're also seeing increased demand, particularly from institutional and corporate customers, for advanced treasury service solutions. On both counts, banks are seeing the advantages of our customizable, client-focused 'manufacturer-distributor' model in providing those enterprise solutions."
Global Finance prepares its rankings for Best Treasury and Cash Management Banks on the basis of input from industry analysts, corporate executives and technology experts. A complete awards listing appears each year in the magazine's March issue.
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon Treasury Services 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 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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 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 (NYSE: BK). Additional information is available at www.bnymellon.com.