BNY

Governments are digitizing money, creating a need for banks to provide rails to connect consumers and central banks.

Citing strong client demand, the nation's largest custody bank is building infrastructure and a team that can help clients store and manage bitcoin and many other types of virtual currency and tokenized assets.

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.

BNY Mellon has launched a system that automates medical and dental insurance claim payments, attaches benefit explanations and enables virtual card support for medical providers.

The bank's Pershing unit is using fingerprint and facial recognition technology on Apple devices to protect user access to its desktop software.

The German bank agreed to pay $150 million to New York State for its dealings with Jeffrey Epstein; the new tool will help lenders determine which borrowers are in the best shape to weather a crisis.

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

An investment firm that has been pressuring large companies to enhance disclosures said that its efforts at JPMorgan Chase, Wells Fargo, Bank of America and Bank of New York Mellon are gaining ground.

The bank was one of the first users of The Clearing House's RTP network. Andrew Haskell explains how faster payments are helping the bank and its clients.

The investment bank is raising its return on equity target following a record earnings year; Democrat lawmakers say JPMorgan's response on racial discrimination questions was inadequate.

Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.

Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

Once struggling to remain relevant, the Providence, R.I., bank is now an industry standout. Inside the story of its resurgence.

BB&T-SunTrust merger closing could slip into 2020; how “the most feared freshman” is shaking up House Banking panel; consumers are split about trusting Amazon, Google with their savings; and more from this week’s most-read stories.

The custody bank has deployed more than 300 bots and is using artificial intelligence throughout the organization.

Incoming CEO Charles Scharf will remain in New York even though the bank's headquarters is in San Francisco. His hiring underscores the diminished importance of geographical proximity for executives at large banks.

Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?

Charles Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.

Paulette Mullings Bradnock is on a mission to bring more diversity to BNY Mellon's workforce, and she is leading by example.