CONNECT WITH US
Fintech

Fintech

BNY Extends Reach Into Tokenized Funds and Pay-to-Wallet Service

PYMNTS – Fintech logo

Published on

Add as a preferred source on Google
BNY Extends Reach Into Tokenized Funds and Pay-to-Wallet Service

Having shifted to a platform operating model over the past few years, BNY is now realizing the benefits of new model by having its teams come together to develop more integrated and innovative solutions for clients, BNY CEO Robin Vince said Thursday (Oct. 15) during the bank’s third quarter earnings call.

Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

“Changing how we worked was a prerequisite, but innovation is an increasingly important element of the BNY story,” Vince said.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

One innovation launched by BNY during the third quarter is its digital transfer agency capabilities, which extend the bank’s transfer agency services to support digitally native funds. BNY said in a July 29 press release that this new platform integrates tokenization, distribution and custody, and supports both digital and traditional asset funds across jurisdictions and blockchains.

Vince said during Thursday’s call that these capabilities “extend our leading position in traditional fund servicing to the on-chain world, enabling a unified client servicing experience and ultimately growth into new asset classes and technologies.”

BNY also enabled a Pay-to-Wallet capability during the third quarter. The bank said in a Sept. 28 press release that this solution brings together BNY’s global payments capabilities to support cross-border bank-to-wallet payments; allows banks to send cross-border payments from bank accounts to retail digital wallets; and helps banks meet the demand for such services without having to build their own infrastructure.


Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.