BNY Mellon's Treasury Services group received top industry recognition at The Asian Banker's Transaction Banking Awards in Hong Kong. The company was awarded "The Asian Banker Achievement Award for the Best Trade Finance Bank in Asia, 2011".
Every year, The Asian Banker magazine recognises achievements in the key business and operational areas of the banking industry. The Transaction Banking Awards evaluate company's achievements in cash management, payments, and trade finance. The winners for these awards are determined through a combination of surveys, interviews and field research by The Asian Banker's research staff.
"Over the last two years we have focused strongly on expanding our treasury business here in Asia, both through investing in new technology and in growing our footprint across the region," said A. Richard Brown, head of BNY Mellon Treasury Services for Asia-Pacific. "Asia-Pacific remains a very competitive market for bank-to-bank transaction service providers, however BNY Mellon continues to perform strongly and this award from The Asian Banker, underlines how far we have come in such a short space of time."
"Looking to the future, we will continue to build on these strong foundations with the goal of achieving deeper penetration across the full spectrum of treasury and payments products in Asia. We are the only triple-A rated US bank and this, plus our sharp focus on meeting clients' needs and deep understanding of the evolving regulatory landscape, is proving to be a compelling draw for institutions," added Brown.
The Asian Banker is a leading provider of strategic intelligence on the financial services industry, established in 1996.
With locations in 34 countries on six continents and a network of more than 2,000 correspondent financial institutions, BNY Mellon's Treasury Services group delivers high-quality performance in cash management, global payments, trade services, capital markets, foreign exchange and derivatives. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies. Processing more than $1.6 trillion in payments transactions on a daily basis, the company is a top-five participant in both the CHIPS and overall funds transfer markets, and is a recognized leader in the delivery of white-label treasury services solutions for banks and other large institutional clients.