BNY Mellon is now a direct participant and shareholder in the Clearing House Automated Payment System (CHAPS). CHAPS is a UK payments system that processes and settles both systemically important and time-dependent payments in sterling. As a direct participant, BNY Mellon will use its global payments infrastructure to send and receive sterling payments settled on the same day. One of only six US banks to join the CHAPS board, BNY Mellon brings the payments system’s total membership to 21.
As a direct participant, BNY Mellon hopes to provide additional benefits to clients, notably in the areas of payment solution efficiency and flexibility, reporting and information management. By allowing for same-day settlement and eliminating reliance on correspondent banks, direct participant membership will improve the efficiency of BNY Mellon’s payment services. This is part of BNY Mellon’s continuing rollout of its
new global payments infrastructure
On the second day of this year's AFP conference Trump's potential tax reform, using synthetic debt and the expected benefits of SWIFT GPI were all hotly discussed topics.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.