BNY

Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

Bank of New York Mellon's Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street's biggest banks.

Having run both businesses and client-relationship organizations, Emily Portney, chief financial officer of BNY Mellon, brings a well- rounded vision to her oversight of the firm's finance functions, which include tax, treasury, capital management and investor relations — where she regularly articulates and advocates the value of the franchise to the public.

As chief audit officer at BNY Mellon, Paulette Mullings Bradnock was charged with keeping tabs on the whereabouts, utilization and movement of almost $500 billion in assets.

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.

A real-time refund can allow travelers to quickly rebook after a cancellation, and instant credits can make longer airport waits more bearable, according to fintech experts.

While millions of employees have voluntarily left their jobs over the past year, senior level industry leaders have continued to advance their careers.

Chief Financial Officer Emily Portney said Bank of New York Mellon would be interested in buying more custody assets if an opportunity arises and the price is right. In the meantime, it continues to eye deals for small tech companies.

BNY Mellon and State Street have been granting millions of dollars in discounts to ensure investors in money market mutual funds stay in the black. Recent moves by the Fed are expected to relieve the pressure.

The bank anticipates strong demand from businesses that want to settle invoices faster. It also wants to get ahead of competition from fintechs offering similar services.

Hood Qaim-Maqami, divisional CIO at the Bank of New York Mellon, has ideas about how technology can be used to make people feel connected.

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.