BNY Mellon has scooped the award of Technology Project of the Year in The Banker‘s “payments” category for its global payments infrastructure. Designed to address the challenges presented by the evolving payments space, the new platform – one of BNY Mellon’s largest investments in global payments to date – is capable of processing payments in 120 currencies, and has the potential to expand this number in the future. The new infrastructure operates as a single platform geared to process payments regardless of their value, initiation method, settlement mechanism or location.
The awards celebrate the most innovative and transformational contributions to financial services technology around the world, and the winners were deemed by the judges to have the capacity to markedly improve the financial services landscape by addressing long-term problems as well as issues of emerging importance.
“Our new global payments infrastructure enables us to maintain BNY Mellon’s global payments leadership in a rapidly changing global banking environment,” said Michael Bellacosa, Managing Director and Head of Global Payments for BNY Mellon Treasury Services. “Staying ahead of the marketplace’s ‘faster, more efficient, and more data-enriched’ service expectations is a win for us, for the clients whose payments we process, and for our relationships globally with our client banks.”
To read the full award write-up, please click here (please note, login required)