BNY Mellon and Fiserv Increase Actual-Time FX Fee Quotes Capabilities for Funds from U.S. Monetary Establishments

NEW YORK, Jan. 23, 2023 /PRNewswire/ — BNY Mellon and Fiserv, a number one international supplier of funds and monetary companies know-how, have joined forces to ship further capabilities for real-time international alternate (FX) fee quotes for funds from U.S. monetary establishments.

Utilizing progressive utility programming interface (API) connectivity, monetary establishments leveraging Payments Exchange: Foreign Exchange Services from Fiserv can now seamlessly entry BNY Mellon’s real-time FX rate quotes in over 120 currencies with out the necessity for extra integration. This new providing supplies U.S. monetary establishments the power to execute foreign money conversions for cross-border funds with upfront fee visibility.

“One of many most important challenges for U.S. monetary establishments trying to entry real-time FX fee quotes for funds is that the prices related to integrating to a banking companion might be prohibitive,” mentioned Isabel Schmidt, World Co-head of Funds at BNY Mellon. “We’re addressing this head on via new integration which allows establishments to supply purchasers with streamlined, real-time FX fee quotes to facilitate cross border funds.”

BNY Mellon’s real-time FX fee quotes capabilities are designed to be configurable, offering a tailor-made providing for cross border funds. Together with transaction monitoring and reporting instruments, monetary establishments can entry detailed cost standing to boost the help expertise, in addition to present extra transparency to their very own purchasers utilizing BNY Mellon’s on-line instruments.

Funds Trade: International Trade Companies from Fiserv is a versatile, web-based answer for finishing end-to-end worldwide wire transfers, which helps reduce the effort and time required to handle international funds. The answer assists in eliminating guide processes with the added benefit of one-step wire entry for international alternate.

“Monetary establishments want cost-efficient options to satisfy the growing demand for funds in international foreign money,” mentioned Laura Clary, Vice President of Enterprise Funds Options Product Administration at Fiserv. “With Funds Trade: International Trade Companies, banks and credit score unions can entry a number of choices to facilitate international alternate funds for his or her purchasers while not having to combine with a number of third-party suppliers platforms or programs.”

About BNY Mellon
BNY Mellon is a world investments firm devoted to serving to its purchasers handle and repair their monetary belongings all through the funding lifecycle. Whether or not offering monetary companies for establishments, companies or particular person buyers, BNY Mellon delivers knowledgeable funding and wealth administration and funding companies in 35 international locations. As of Dec. 31, 2022, BNY Mellon had $44.3 trillion in belongings below custody and/or administration, and $1.8 trillion in belongings below administration. BNY Mellon can act as a single level of contact for purchasers trying to create, commerce, maintain, handle, service, distribute or restructure investments. BNY Mellon is the company model of The Financial institution of New York Mellon Company (NYSE: BK). Extra data is on the market on www.bnymellon.com. Observe us on Twitter @BNYMellon or go to our newsroom at www.bnymellon.com/newsroom for the most recent firm information.

About Fiserv
Fiserv, Inc. (NASDAQ: FISV) aspires to maneuver cash and knowledge in a means that strikes the world. As a world chief in funds and monetary know-how, the corporate helps purchasers obtain best-in-class outcomes via a dedication to innovation and excellence in areas together with account processing and digital banking options; card issuer processing and community companies; funds; e-commerce; service provider buying and processing; and the Clover® cloud-based point-of-sale and enterprise administration platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been acknowledged as considered one of FORTUNE World’s Most Admired Corporations® for 11 of the previous 14 years and named among the many World’s Most Modern Corporations by Quick Firm for 2 consecutive years. Go to fiserv.com and follow on social media for extra data and the most recent firm information.

Media Contacts:

BNY Mellon
Ryan Wells
+1 646 648 3887
[email protected]

Fiserv
Ann Cave
+1 678-325-9435
[email protected]

 

 

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SOURCE BNY Mellon