NEW
YORK, Jan. 23, 2023 /PRNewswire/ -- BNY
Mellon and Fiserv, a leading global provider of payments and
financial services technology, have joined forces to deliver
additional capabilities for real-time foreign exchange (FX) rate
quotes for payments from U.S. financial institutions.
Using innovative application programming interface (API)
connectivity, financial institutions leveraging Payments Exchange:
Foreign Exchange Services from Fiserv can now seamlessly
access BNY Mellon's real-time FX rate quotes in over 120
currencies without the need for additional integration. This new
offering provides U.S. financial institutions the ability to
execute currency conversions for cross-border payments with upfront
rate visibility.
"One of the main challenges for U.S. financial institutions
looking to access real-time FX rate quotes for payments is that the
costs associated with integrating to a banking partner can be
prohibitive," said Isabel Schmidt,
Global Co-head of Payments at BNY Mellon. "We are addressing this
head on through new integration which enables institutions to
provide clients with streamlined, real-time FX rate quotes to
facilitate cross border payments."
BNY Mellon's real-time FX rate quotes capabilities are designed
to be configurable, providing a tailored offering for cross border
payments. Along with transaction tracking and reporting tools,
financial institutions can access detailed payment status to
enhance the support experience, as well as provide more
transparency to their own clients using BNY Mellon's online
tools.
Payments Exchange: Foreign Exchange Services from Fiserv is a
flexible, web-based solution for completing end-to-end
international wire transfers, which helps minimize the time and
effort required to manage global payments. The solution assists in
eliminating manual processes with the added advantage of one-step
wire entry for foreign exchange.
"Financial institutions need cost-efficient solutions to meet
the increasing demand for payments in foreign currency," said
Laura Clary, Vice President of
Enterprise Payments Solutions Product Management at Fiserv. "With
Payments Exchange: Foreign Exchange Services, banks and credit
unions can access multiple options to facilitate foreign exchange
payments for their clients without needing to integrate with
multiple third-party providers platforms or systems."
About BNY Mellon
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 and wealth management and investment
services in 35 countries. As of Dec. 31, 2022, BNY Mellon
had $44.3 trillion in assets under custody and/or
administration, and $1.8 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. Follow
us on Twitter @BNYMellon or visit our newsroom
at www.bnymellon.com/newsroom for the latest company
news.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires
to move money and information in a way that moves the world. As a
global leader in payments and financial technology, the company
helps clients achieve best-in-class results through a commitment to
innovation and excellence in areas including account processing and
digital banking solutions; card issuer processing and network
services; payments; e-commerce; merchant acquiring and processing;
and the Clover® cloud-based point-of-sale and business management
platform. Fiserv is a member of the S&P 500® Index, the
FORTUNE® 500, and has been recognized as one of FORTUNE World's
Most Admired Companies® for 11 of the past 14 years and named among
the World's Most Innovative Companies by Fast Company for two
consecutive years. Visit fiserv.com and follow on social
media for more information and the latest company news.
Media Contacts:
BNY Mellon
Ryan Wells
+1 646 648 3887
ryanw@bnymellon.com
Fiserv
Ann Cave
+1 678-325-9435
ann.cave@fiserv.com
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content:https://www.prnewswire.com/news-releases/bny-mellon-and-fiserv-expand-real-time-fx-rate-quotes-capabilities-for-payments-from-us-financial-institutions-301727635.html
SOURCE BNY Mellon