Bank of New York Mellon : BNY Mellon Recognized as Best Correspondent Bank at GTR Leaders in Trade Awards

Annual awards highlight excellence in the trade, commodity, supply chain and export finance markets

Global Trade Review (GTR) recently presented its 2016 Leaders in Trade Awards, honoring BNY Mellon as Best Correspondent Bank.

'Correspondent banking underpins global trade, and BNY Mellon's established strength in this space is built upon its expertise, exceptional client service, global reach and relentless focus on innovation,' said Dominic Broom, BNY Mellon's Global Head of Trade Business Development. 'By providing industry-leading solutions, we ensure our clients - and their customers - are equipped with the tools they need to succeed in this ever-changing landscape.'

BNY Mellon is dedicated to delivering innovative, trusted solutions - which include traditional correspondent trade, risk mitigation and finance offerings - to help ensure financial institutions go beyond addressing today's business challenges to fully leverage a complex environment to their best advantage.

At the Forefront of Innovation

As part of the biggest technological transformation in its history, BNY Mellon has launched its cutting edge cloud-based platform - NEXEN - which consolidates solutions from BNY Mellon, select third-parties and clients onto a single platform. This allows business partners to access applications on trade processing and reporting, open account collections, document delivery and receivables management with ease across all access devices. NEXEN's application program interfaces (APIs) enable efficient integration of a client's in-house user interface with BNY Mellon's trade service for data exchange and aggregation.

The ease of integration and speed of NEXEN can facilitate adaptation to changing regulatory, market and client needs, mean that BNY Mellon can help to position correspondent banks with the tools they need to future-proof their business.

Expertise and Client Advocacy

'BNY Mellon has built a reputation for its exceptional client service and operating expertise in the trade space over many years,' Broom said. 'We're supporting local and regional banks on a non-compete basis, and bringing a seamless, end-to-end set of solutions to their customers.'

Highly scalable solutions allow financial institutions to provide comprehensive, effective trade solutions to their customers, which significantly improve operational efficiency and optimize resources to help facilitate growth without significant investment in technology.