BNY Mellon becomes a direct participant in CHAPS

BNY Mellon has become a direct participant and shareholder in the Clearing House Automated Payment System (CHAPS). With direct clearing capability for sterling-denominated payments, BNY Mellon will use its enhanced global payments infrastructure to send and receive same-day sterling payments. By eliminating reliance on correspondent banks, BNY Mellon will be able to provide additional benefits to clients, notably in the areas of payment solution efficiency and flexibility, reporting and information management. Following Moorgate’s outreach, the news has been published in a range of target publications, including FX-MM, Bobsguide, Finextra, FSTech, gtnews and Treasury Today     

BNY Mellon’s full announcement can be read here

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