The Bank of New York Mellon's Treasury Services Group Garners Recognition for Outsourcing Services
February 05 2009 - 9:07AM
PR Newswire (US)
Best Provider Recognition Includes White-Label Services for Banks
and SourceNet's Accounts Payable Services NEW YORK, Feb. 5
/PRNewswire/ -- The Bank of New York Mellon's Treasury Services
group has earned recognition as best service provider in two
outsourcing categories -- white-label systems, and accounts payable
services -- in Global Finance magazine's 2009 survey of Best
Treasury and Cash Management Banks. This is the second consecutive
year for recognition of The Bank of New York Mellon as Best
White-Label Services provider. Recognition of the Treasury Services
group's SourceNet operation as Best Accounts Payable Services
provider follows a third consecutive number one ranking last fall
for SourceNet among accounts payable vendors on the 2008 Top 50
Best Managed Global Outsourcing Vendors list compiled by the
Brown-Wilson Group. Making their best-in-class selections with
input from industry analysts, corporate executives and technology
experts, Global Finance considered a variety of objective and
subjective criteria, including profitability, market share and
reach, customer service, competitive pricing, product innovation,
and the extent to which treasury and cash management banks have
successfully differentiated themselves from competitors around core
treasury and cash management service provision. Results from this
year's survey will appear in the March issue. "In announcing this
year's awards, Global Finance noted the changing global landscape
for treasury and cash management services. The growth of
outsourcing as an effective way to control expenses and mitigate
risk while still accessing state-of-the-art technology and service
delivery capabilities has certainly been a prominent feature of
that changing landscape, especially in light of current economic
conditions," said Eric Kamback, Chief Executive Officer, Treasury
Services, with The Bank of New York Mellon. "Our years of
experience, ongoing technology development program and continuing
investments in our outsourcing capabilities have positioned us very
well to help our banking and corporate clients meet their evolving
needs in today's challenging economic environment." 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 is a recognized leader in the delivery of private-label
treasury services solutions for banks and other large institutional
clients. More information on the group's Enterprise offerings to
other financial institutions is available at
http://www.bnymellon.com/enterprise; information on SourceNet's
accounts payable services is available at
http://www.bnymellon.com/sourcenet. 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 $20.2 trillion in
assets under custody and administration, $928 billion in assets
under management and services more than $11 trillion in outstanding
debt. Additional information is available at
http://www.bnymellon.com/. DATASOURCE: The Bank of New York Mellon
Corporation CONTACT: Ron Sommer, The Bank of New York Mellon
Corporation, +1-412-236-0082, Web Site: http://www.bnymellon.com/
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