BNY Mellon Adds Mobile Access to its Remit Worldwide(SM) Service

Remitters can now initiate, view and track remittance transactions via smart phones and other mobile devices

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Oct 26, 2010, 02:00 ET

NEW YORK, Oct. 26 /PRNewswire/ -- BNY Mellon, the global leader in asset management and securities servicing, today announced the launch of a mobile application for its Remit Worldwide(SM) service. Turning smart phones into global remittance platforms, this new application allows smart phone users to initiate, view and track remittances via the Remit Worldwide system.

Using this new application, customers of client banks that offer Remit Worldwide via the Internet can use their mobile device to send money from almost any location. Wherever they are and whatever else they might be doing, they can use their mobile device to make a few simple clicks and quickly deliver money through Remit Worldwide.

"Smart phones and other mobile devices continue to grow in popularity as gateways to Web-based banking services and solutions. As this enhancement shows, we're keeping pace with consumer preferences by adding mobile-friendly features to our payments solutions," said Dominick Petramale, Remit Worldwide Product Manager.

Remit Worldwide is a customizable white-labeled money transfer solution from BNY Mellon Treasury Services that enables client banks in the U.S., India, Philippines, Indonesia, Vietnam and El Salvador to provide remittance services to their retail customers. A client friendly, cost effective solution, Remit Worldwide leverages BNY Mellon's leadership in the international ACH, electronic banking and global payments spaces, allowing client banks to enter the growing remittance business and collect incoming payments from customers in the United States without incurring the cost and operational risks associated with platform development, maintenance and operation. Remit Worldwide provides multiple tools for client use in managing the reporting, risk and compliance aspects of cross border remittance payments. Optional multi-lingual customer service call center support is also available.

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 was recognized by Global Finance magazine earlier this year as the leading provider of white-label treasury products and services for banks and other large institutional clients.

BNY Mellon (NYSE: BK) is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon 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 $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon