BNY Mellon has launched Payment Analytics, a service that gives heavy users of wire transfers insight into their payments, with the goal of making them more efficient.
Payment Analytics gives BNY Mellon's business clients real-time updates on straight-through processing success rates, the type and number of payment queries they're handling, and trend data that clients can use to improve payment processing efficiency.
It can report on payments by account, time intervals, beneficiaries and payment channels. It complements BNY Mellon's Intraday Liquidity Analytics service.
The pilot offering has been open to select global clients through the company's TreasuryEdge portal for several months, according to a May 18 press release. The bank says this is part of its commitment to help clients manage their treasury function using big data-based analytics.
BNY Mellon reported $28.5 trillion in assets under custody and administration at the end of the first quarter and $1.7 trillion in assets under management.