CLEVELAND AND NEW YORK, Oct. 8,
2015 /PRNewswire/ -- BNY Mellon, a global leader in
investment management and investment services, and KeyBank (NYSE:
KEY), today announced that BNY Mellon's Treasury Services business
will provide private label trade processing services to KeyBank's
Global Trade Group.
The integration of BNY Mellon's capabilities and experience with
KeyBank's leading global trade platform will leverage BNY Mellon's
trade processing resources and extensive document and transaction
processing capabilities. Specific outsourcing services being
provided to KeyBank include a Web-based letter of credit
information delivery and document management system; a Web-based
trade letter of credit portal; and a Web-based system for
documentary collections, document review, funds transfer and trade
reporting. The range of services being provided by BNY Mellon
integrates all of the essential components of letter of credit and
documentary collection transactions into a single platform.
"We're excited to enter into this service agreement and chose
BNY Mellon because of its strong trade processing, outsourcing
experience and track record," said Sandy
Marrone, head of the product group for KeyBank's Global
Trade Services. "This positions us well to continue our
strong growth in the trade industry and deliver best in class
solutions for our clients."
"KeyBank's approach to international trade is a great example of
how forward thinking banks are adapting to both the changing global
economy and the impact of technology on the banking industry," said
Joon Kim, head of global trade
processing products for BNY Mellon's Treasury Services group.
"Providing clients with trade processing support that reflects high
standards of operational and technical expertise is becoming
increasingly important to KeyBank, and we are extremely pleased to
be selected as their trusted provider."
Notes to editors
KeyCorp (NYSE: KEY) was organized more than 160 years ago and is
headquartered in Cleveland, Ohio.
One of the nation's largest bank-based financial services
companies, Key has assets of approximately $94.6 billion. Key provides deposit, lending,
cash management and investment services to individuals, small and
medium-sized businesses under the name of KeyBank N.A. Key also
provides a broad range of sophisticated corporate and investment
banking products, such as merger and acquisition advice, public and
private debt and equity, syndications and derivatives to middle
market companies in selected industries throughout the United States under the KeyBanc Capital
Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC.
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.
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.
Contact:
BNY Mellon
Ron
Sommer
+1 412 236 0082
ron.sommer@bnymellon.com
Malcolm Borthwick
+44 207 163 4109
Malcolm.Borthwick@bnymellon.com
KeyBank
Laura
Mimura
+1 216 471 2883
laura.mimura@key.com
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SOURCE BNY Mellon