LONDON, July 24, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been named best bank trade services provider in the Trade & Forfaiting Review (TFR) Excellence Awards for 2014. BNY Mellon also received a bronze award for most innovative trade bank.
TFR's awards are based on verified votes from its readers including corporates, banks and other financial institutions involved in international trade finance. BNY Mellon's awards recognize the value of the company's expanding trade processing capabilities. This recognition comes during a time when BNY Mellon is also seeing the benefits from the recent deployment of its new global payments infrastructure, which is designed to harness and extend the company's established strengths as a processor of US dollar-denominated payments across the extensive array of currencies that BNY Mellon supports as a major provider of global payments and foreign exchange services.
"Trade services are critically important to our client banks and to the importers and exporters they support," said Vince Galloni, Global Head of Trade Processing Products, Treasury Services at BNY Mellon. "They're also a great example of how we use the scalability of our innovative solutions available to client institutions that can't make a business case for developing and deploying service delivery capabilities internally."
"Trade services and global payments are two areas of strategic focus where we're combining advanced technology and quality service to differentiate ourselves in the marketplace and improve the strength and diversity of the global treasury services environment," said Ian Stewart, Chief Executive Officer, Treasury Services at BNY Mellon. "We see this as a winning strategy for us and for our clients."
TFR is a leading trade and supply chain finance information resource for professionals around the world. It covers topics such as structured trade and commodity finance deals, credit documentation, regulatory issues and political risk analysis.
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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. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets. Earlier this year, BNY Mellon launched its new global payments infrastructure which over time will process any payment on a single platform, anywhere – irrespective of its value, currency or clearing mechanism. The company is also 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 June 30, 2014, BNY Mellon had $28.5 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.