BNY Mellon is in the process of developing an Enterprise Payment Hub (EPH) in its Treasury Services business. The hub will support all currencies, payment channels and geographic regions for clients globally.
The development process, which is part of a multi-year initiative, is starting with a focus on delivering euro and sterling services in Frankfurt, London, Brussels and Luxembourg for BNY Mellons global customer base. Later stages will address clearing opportunities in Asia and Latin America.
“Our Enterprise Payment Hub will allow us to apply our acknowledged strengths as a processor of USD-denominated payments to global payments irrespective of their currency denomination,” says Susan Skerritt, executive vice president and global head of business strategy & market solutions for BNY Mellon. “Being designed from the outset as a comprehensive solution, it will reflect our strengths across multiple payment products and channels. As it evolves, EPH will achieve our strategic intention of giving global clients access to a single global solution regardless of currency or payment type.”
BNY Mellon is collaborating with Clear2Pay and its Open Payment Framework technology on the development.
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