BNY Mellon Adds Paymode-X to its Portfolio of Payment Solutions
Collaboration will support BNY Mellon clients converting from paper to electronic payments
NEW YORK and PORTSMOUTH, N.H. (September 16, 2015) — BNY Mellon and Bottomline Technologies (NASDAQ: EPAY), today announced an agreement that will add Bottomline Technologies' Paymode-X payment network to the portfolio of payment solutions provided by BNY Mellon's Treasury Services business.
Providing access to Paymode-X will enhance BNY Mellon's support for clients converting from paper checks to electronic payments. One of the world’s largest business-to-business payment networks with more than 300,000 members, Paymode-X facilitates the secure and efficient online exchange of electronic payments and remittance advices between payers and vendors – all in a user-friendly and intuitive format.
“The distinguishing characteristics of the Paymode-X network—its size, security of payment and account information, ease of vendor onboarding and detailed electronic remittance delivery—make it a perfect fit for our payment solutions portfolio,” said Anthony Brady, managing director and global head of business strategy & market solutions for BNY Mellon's Treasury Services business. "Migrating from paper to electronic payments is key to improving payment efficiency, and Paymode-X will significantly enhance our support for clients making that transition."
“BNY Mellon’s use of Paymode-X is a plus for our two companies. It's also a big win for the BNY Mellon clients that use our network,” said Rob Eberle, President and CEO of Bottomline Technologies. “Processing payments via Paymode-X can deliver significant operating cost efficiency improvements and other benefits for BNY Mellon's clients."
BNY Mellon will feature Paymode-X in their exhibit 1012 at the Association for Financial Professionals (AFP) Conference in Denver, Colorado from October 18-21.
Notes to editors
With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimise cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets. The company is also a recognised leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.
About Bank of NY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2015, BNY Mellon had $28.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioural analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.