BNY Mellon forms strategic alliance with Trustly to pioneer
an open banking payment solution with guaranteed settlement
NEW
YORK, Sept. 7, 2023 /PRNewswire/ -- BNY Mellon
(NYSE: BK) today announced the launch of
BankifySM, an open banking payments solution that
helps organizations receive consumer payments from bank accounts,
with a seamless user experience and that offers guaranteed funds
for business receivables.
Bankify couples BNY Mellon's transaction payments expertise with
Trustly's market leading open banking capabilities. With this
solution, BNY Mellon's clients will be able to offer end-users the
ability to easily make payments directly from their bank accounts
as an alternative to credit or debit cards and third-party payment
platforms. Bankify was designed with all consumer-to-business
payment flows in mind – ranging from merchant payments to bill pay,
or account/digital wallet funding.
"Bankify moves the needle for the payments industry in both the
depth of the solution and the diverse range of organizations it can
support," said Jennifer Barker,
Global Head of Treasury Services for BNY Mellon. "Whether you
are a merchant looking for cost-efficiencies, a biller modernizing
how your customers share banking data, or a brokerage firm wanting
guaranteed settlement in order to offer instant use of funds during
enrolment, Bankify's account linking experience and settlement
guarantee are powerful tools that help an organization's top and
bottom lines."
"The collaboration between Trustly and BNY Mellon emerged
through our mutual focus on advancing the payment
industry and establishing a new, alternative, open banking-based
standard for consumer and business payments," said Alexandre
Gontheir, Founder and CEO of Trustly, Inc. "We believe that
consumers have the right to a financially responsible payment
method, and that merchants have the right to unique open
banking-enabled data insights."
About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank
and the first company listed on the New York Stock Exchange (NYSE:
BK). Today, BNY Mellon powers capital markets around the world
through comprehensive solutions that help clients manage and
service their financial assets throughout the investment life
cycle. BNY Mellon had $46.9 trillion in assets under
custody and/or administration and $1.9 trillion in assets
under management as of June 30, 2023. BNY Mellon has been
named among Fortune's World's Most Admired Companies and Fast
Company's Best Workplaces for Innovators. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation.
Additional information is available
on www.bnymellon.com. Follow us on LinkedIn or visit
our Newsroom for the latest company news.
Media Contact:
Ryan
Wells
+1 212 298 1249
ryanw@bnymellon.com
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SOURCE BNY Mellon