BNY Mellon Innovation in Cash & Liquidity Management Casestudy

Aite Novarica
Innovation in Cash
and Liquidity Management

Learn how BNY Mellon leveraged Intellect iGTB's capabilities to create a solution that offers a compelling customer experience

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Aite Novarica Innovation in Cash & Liquidity Management
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Aite Novarica's Take

This report provides useful advice and practical guidelines to reap the opportunities and explore the benefits that a forward-looking and transformational bank can deliver through an integrated liquidity management portfolio.

Key Highlights​

This paper describes how BNY Mellon has leveraged Intellect Global Transaction Banking (iGTB) capabilities to create a solution that offers a compelling customer experience on one of the most important elements for any corporate treasury office: maximizing cash at hand while minimizing borrowing.

Methodology

BNY Mellon’s impetus to innovate around its liquidity offerings was mainly driven by client needs to move money efficiently and effectively globally as required. BNY Mellon had already invested enormously to offer its customers digital access to their accounts and service the accounts online.

Implementation

BNY Mellon decided to use an external collaborator with a superb track record in this field that was able to handle multiple existing DDA systems.

Process

The implemented liquidity management solution is now helping BNY Mellon to work with a broader array of clients in markets that consider these solutions table stakes. This has enabled the bank to more actively penetrate industry sectors like corporations, multinationals and NBFIs and extend to other geographies with minimal changes to the system.

Result

This solution allows a customer to realize a higher yield based on the transaction throughput, providing some of the benefits of a time deposit construct without the need to be bound by fixed maturities or notice periods. It's the amount of activity that the account generates to build the win-win proposition: The more cash that's concentrated and the more payments that are executed, the more favorable the yield is to the customer.

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Aite Payments Matrix Report

Payments Best in class

Intellect Global Transaction Banking (iGTB) identified as a leader and "Best in Class" Payments Platform provider

In this report, the Intellect Payments solution stands out, offering a highly flexible and scalable architecture. The contextual and intuitive navigation offers Financial Institutes (FI), the ability to modernise current payments infrastructure and accommodate emerging payment rails across the globe.

Scale and Success

Intellect iGTB’s Payment platform handles the complete lifecycle of payments - from initiation to pre-processing,
execution and settlement - in real-time, and takes a unique contextual approach to payments. ​

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Countries

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Clients across the Globe

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Payment Rails

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Payments processed per day for a large UK bank

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ISO 20022 payment messages peak day benchmarked at Reserve Bank of India 1

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Cross-country corporate payments expected to scale 100% in transactions volume at one of India's largest private banks

1 Intellect bags multi-million deal from Reserve Bank of India, 2022

Payments Best In Class

“Best In Class” in Payments

Intellect Global Transaction Banking (iGTB), the transaction banking arm of Intellect Design Arena, a cloud-native, future-ready, new-gen multi-product FinTech company for the world’s leading financial and insurance institutions, has been identified as leader and ‘Best in Class’ in Payments Hub Matrix Impact report by Aite-Novarica Group that evaluates the overall competitive position of payments technology providers, focusing on stability, client strength, product features, and client services.

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Superior Payments Technology

Intellect’s payment superior technology is backed by sophisticated in-memory cache and distributed database technology to ensure milli-second response times needed for payments. It supports very high-volume corporate payment files containing over 300,000 payments at 1000 TPS. Our next-gen payments now come with Machine Learning and AI based recommendations for Optimum Payment Routing and is ready for the future with adaptors for DLT based payment routing.

Aite Leader & Best in Class Payments Matrix Report

Aite-Novarica Group’s Take

Intellect is a market-leading payments provider with a payments solution that is highly differentiated in the market due to its scalability around the globe, packaged in a modern and well-designed user interface.

Leader & "Best in Class"

It recognises Intellect Payments for its strengths among the 15 vendors under the Aite Matrix framework offering a highly flexible and scalable architecture

Top Strategic Product Initiatives

Contextual analytics, dashboards, and intelligent recommendations during payment initiation and more.

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Recent Events

We’re not just Best in Class in Payments.
Read all about our other recent achievements.

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Aite Novarica White Paper

This thorough Aité-Novarica “Impact” report follows an in-depth study of the six leading vendors in this space. iGTB led in three out of four categories : by Enrico Camerinelli

Transaction Limits Management

Learn how iGTB Transaction Limits Management, a system which allows banks to process high value corporate payments by checking client balances and limits in real-time and give a pay/ no-pay/ refer decision (based on corporate cash and liquidity structures and shared limits), was able to add value to multiple banks around the world.


A Covid survival strategy with Supply Chain Finance

The Covid-19 pandemic has gifted us a rare opportunity to reset and re-shape the world we live in. What may previously have been regarded as a dream – paperless trade – is now a reality. What may previously have been regarded as difficult – supplier onboarding – is now made easy. What may previously have been regarded as impossible – interpreting vast amounts of unstructured data – is now child’s play. What may previously have been regarded as low margin – supply chain finance – is now a $20 billion revenue opportunity. Let’s not allow this crisis to go to waste

This paper analyses the perfect storm of Covid-19 and lists seven major areas of focus that show banks how to position themselves not only to survive but to obtain a competitive advantage in these challenging times.

About the author

David Hennah, Global Product Head, Trade & Supply Chain Finance, iGTB

David Hennah leads the trade and supply chain finance business at iGTB, having previously held a similar position at Finastra (formerly Misys). He is also Co-chair of ICC committee that published rules for Digital Trade (URDTT)

David has previously worked for Barclays, ICL/Fujitsu Services and SWIFT and has more than 40 years of experience in senior leadership roles across banking, software and consultancy. He is also the author of the ICC Guide to the Uniform Rules for BPO. More recently, he has assumed a variety of industry roles, including serving as co-chair of the World Trade Board (of which he remains a member). He is also an expert advisor to both the ICC Academy and the London Institute of Banking & Finance (LIBF).

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How to unlock the true value of ISO 20022?

ISO 20022 is at the center of payments modernization globally. While banks generally tend to understand the benefits ISO 20022 can deliver, the initiatives driven at most banks are a tactical attempt at establishing a formal checkmark for compliance with the new messaging formats. Meeting the payment rail timelines, standardization of message formats and bank internal priorities continue to take center stage while taking away the focus from the true value ISO can deliver.

Through this whitepaper, Intellect Global Transaction Banking shares its views on how banks can approach ISO 20022 in a manner that not only delivers the end-results through a progressive modernization journey but adds also generates significant value, both to the bank and their clients.

balakrishnanBalakrishnan Narasimhan is a senior domain leader with over 27 years of experience having spent his entire career in the banking domain being both a banker and in the global core banking solutions space. He is a Business, Technology and Operations leader with an extensive background in envisioning and implementing product strategy, delivery and large-scale transformations for the financial services industry for clients in various geographies across Asia, EMEA and the Americas. At Intellect iGTB, Bala leads solution-led consulting activities for clients in the Americas across a variety of solutions, which include Digital Banking, Payments, Cash / Treasury Management, Liquidity Management, Virtual Accounts, Escrow Deposits and Cash Flow Forecasting

indu-ramanathanIndu Ramanathan is a senior domain expert with over 16 years of experience, and most of her career has been focused in the financial technology domain across various roles, which includes new business development, relationship management, product management, solution implementation and solution consulting. She has extensive knowledge in payments and cash management and has worked closely with many banks across Asia, EMEA and the Americas. She has helped Banks in implementing banking modernization strategies and large-scale transformations right from strategy blue-print to delivery of the program including end-client outreach

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Payments Limits Management in a Real-Time World

Corporate payments are at the focus of organizations and banks worldwide. While they bring in much needed operational liquidity and balances for banks, the risk of missing a cut off, delaying a payment or erroneously releasing a payment without suitable limit checks can have catastrophic consequences.

Through this whitepaper find out how iGTB Transaction Limits Management has helped banks improve STP and client satisfaction while reducing Basel III provisioning and operational costs.

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Acceleration of Liquidity Management

The white paper draws on research carried out by Coalition Greenwich in collaboration with iGTB demonstrating the need to accelerate liquidity management.

Joshua CohenJoshua Cohen, Head of Liquidity, iGTB demonstrates that with 57% of corporates citing Liquidity Management as a top business priority for the next 6-12 months, it is by far the most frequently mentioned business priority. Corporates need their banks to adapt and deliver new tools as they grapple with adjusting to new ways of working and of managing cash.

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The Road to Heaven is Paved with Bad Transformations

The Road to Heaven is Paved with Bad Transformations

The white paper highlights how understanding the right aims will set the right context for corporate banking digital transformation programme.

Andrew England, Director and Head of Strategy, iGTB, makes the case that there is a much broader context covering the way designing business and the way to handle risk, and the regulatory spotlight will fall on those who undervalue those crucial elements

The paper also touches upon the ECG framework for banks and digital transformation in the post Covid world.

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