IBERIABANK Corporation Selects Remit Worldwide(SM) to Provide Remittance Services to Banking Clients
November 17 2008 - 8:15AM
PR Newswire (US)
NEW YORK, Nov. 17 /PRNewswire/ -- The Bank of New York Mellon, the
global leader in asset management and securities servicing, today
announced that it will be providing its Remit Worldwide(SM)
private-label global remittance services solution to IBERIABANK and
Pulaski Bank and Trust Company, the two bank subsidiaries of
IBERIABANK Corporation. Provided by The Bank of New York Mellon's
Treasury Services group, Remit Worldwide(SM) is a robust
private-label solution that will enable clients of IBERIABANK and
Pulaski Bank and Trust Company to remit funds directly to
beneficiaries in other countries. A major form of cross border
funds transfer, remittances are an important banking tool for bank
clients with beneficiaries abroad. "We are committed to offering a
comprehensive portfolio of banking products and services designed
to meet the needs of our diverse client base," said Don Ledet,
Executive Vice President, who oversees product development for both
institutions. "We recognize that population shifts in both
Louisiana and Arkansas require us to be ready to adapt to changes
in the communities we serve." "We're committed to making it easier
for banks to participate in the growing remittance market, and the
continued growth of Remit Worldwide(SM) reflects our success adding
important features and functionalities," said Wendy Miller,
Director of Remittance Services with The Bank of New York Mellon.
"Some of these innovations, notably the compliance enhancements
announced earlier this month, make Remit Worldwide(SM) an even
better solution for our client banks. Others, like the new text
messaging feature that allows remitters in the U.S. to send text
messages to payees overseas alerting them to remittance
transactions, are making Remit Worldwide(SM) even more attractive
to the clients of banks that use our service." With locations in 34
countries on six continents and a network of more than 2,000
correspondent financial institutions, The Bank of New York Mellon's
Treasury Services group delivers high-quality performance in global
payments, trade services, cash management, capital markets, foreign
exchange and derivatives. It helps clients optimize cash flow,
manage liquidity and make payments more efficiently around the
world in more than 100 currencies. The Company is a top-five
participant in both the CHIPS and overall funds transfer markets,
and was recognized by Global Finance magazine earlier this year as
the leading provider of white-label treasury products and services
for banks and other large institutional clients. With $5.4 billion
in assets, IBERIABANK Corporation is the second largest financial
holding company based in Louisiana, and operates two bank
subsidiaries: IBERIABANK and Pulaski Bank and Trust Company. For
more information about IBERIABANK Corporation, visit
http://www.iberiabank.com/. The Bank of New York Mellon Corporation
is a global financial services company focused on helping clients
manage and service their financial assets, operating in 34
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has $22.4 trillion in assets
under custody and administration, approximately $1.1 trillion in
assets under management and services approximately $12 trillion in
outstanding debt. Additional information is available at
http://www.bnymellon.com/. DATASOURCE: The Bank of New York Mellon
CONTACT: Ron Sommer, The Bank of New York Mellon, +1-412-236-0082,
Web site: http://www.bnymellon.com/ http://www.iberiabank.com/
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