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The Bank of New York Mellon's Treasury Services Group Garners Recognition for Outsourcing Services

Posted on: Thursday, 5 February 2009, 08:07 CST

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 www.bnymellon.com/enterprise; information on SourceNet's accounts payable services is available at 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 www.bnymellon.com.

SOURCE The Bank of New York Mellon Corporation

Source: PR Newswire

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