The Bank of New York Mellon has presented a White Labeling service for its LiquidityDirect platform.
As part of this decision, financial institutions are allowed to offer consumers ways to manage liquidity, including short-term investments. The relevant information is contained in the press release of the lender, which was published last Monday, October 23.
The Bank of New York Mellon reports that the LiquidityDirect platform, which annually processes cash flow amounting to almost $15 trillion for more than 6,000 institutional investors, offers clients solutions that meet the criteria of investments and risk.
Also, the press release of the financial institution indicates that the White Labeling service allows banks to use all the features of the mentioned platform. The Bank of New York Mellon notes that in this case, single sign-on provides a seamless user experience.
George Maganas, Head of Global liquidy Services at the aforementioned New York financial institution, says that by launching a new solution, the bank is expanding access to LiquidityDirect for other lenders. A representative of The Bank of New York Mellon noted that in this case, it is possible to create a comprehensive user experience for customers.
The press release indicates that the first consumer of the new product will be Morgan Stanley Investment Management (MSIM). In this case, the New York bank’s platform and MSIM’s global customer base will be combined.
Fred McMullen, Co-head of Global Liquidity at MSIM, says that strategic cooperation with this financial institution is aimed at providing treasury groups with a highly differentiated combination of technologies, uninterrupted connectivity, and specialized consumer service.
As we have reported earlier, BNY Mellon Launches Payments Service.