Investment management service provider BNY Mellon has hired Clear2Pay to support the transformation of its Treasury Services business. Clear2Pay will implement an Enterprise Payment Hub (EPH) and support BNY Mellon with further optimizing its payment processing and payment information services.
BNY Mellon has offices in 6 continents and a network of more than 2,000 correspondent financial institutions. The multinational processes globally more than $1.4 trillion in payments transactions on a daily basis.
The solution will ultimately support all currencies, payment channels and geographic regions. The initial focus will be on delivering Euro and Sterling services in Frankfurt, London, Brussels and Luxembourg for the company's global customer base. Later phases of the project will address services in Asia and Latin America.
"The solution from Clear2Pay will set new standards for speed and efficiency" says Susan Skerritt, global head Market Solutions of BNY Mellon. "This multi-year initiative demonstrates our commitment to providing effective and customer focused payment processing and payment information services".