Fulton Bank Unit Picks BoNYM for Mass Payments Services
The Global Exchange Group, a division of Fulton Bank, has chosen The Bank of New York Mellon’s (BoNYM) treasury services group to provide global mass payments services.
Focused on international automated clearing house (IACH) transactions, the payments services are designed to help the Global Exchange Group enhance the scope and sophistication of its international payment solution offerings without incurring the time-to-market, expense and risk management pitfalls often associated with internally developed solutions. Other global mass payment features include a full array of file transfer options, a broad range of reporting features, integrated foreign exchange (FX) support, and alternatives such as wire transfer and foreign drafts when IACH is not available.
“Service providers like the Global Exchange Group are taking on an increasingly important role in the delivery of treasury services in today’s global economic environment,” said Eric Kamback, executive vice president of BoNYM and chief executive officer, treasury services. “Providing treasury services like global mass payments on an outsourcing basis is a great way for us to help our clients achieve their business objectives while deriving more benefits of size and scale from our own treasury services operations.”