In Bolivia’s El Diario, BNY Mellon’s Tom Meiman and Sam Schwartzman explore the volatile US liquidity landscape and the tools to optimise cash

Following the COVID-19 pandemic, the US liquidity landscape is changing. With low-interest rates already dominating the US because of the 2008 financial crisis, treasurers face greater challenges as they navigate today’s volatile market conditions.

Against this backdrop, Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets explore how cash managers can use investment and deposit accounts to effectively optimise their surplus operating cash.

 Click here to read Part One and Part Two (the articles have been published in Spanish).

BNY Mellon’s Carl Slabicki speaks to Payments Journal on the evolution of payments in the US

As new real-time payment options emerge and legacy systems are modernised, the payments industry is experiencing a shift from paper to digital processes. This trend is being reinforced by the current challenging environment, which is forcing businesses to rely on the digital environment more than ever.

Against this backdrop, in an article for Payments Journal, Carl Slabicki, Head of Strategic Payment Solutions at BNY Mellon explains that it is critical that banks keep pace with the rate of change – supporting clients as they undertake their own digital journeys.

Read the full article here

Loss given default in a downturn: How can we learn from historical data, asks GCD’s Richard Crecel in International Banker article

Writing for International Banker, Richard Crecel, Executive Director at Global Credit Data, explains that while there are many uncertainties about the duration and impact of the pandemic, observers remain cautious in their recovery estimates. Taking into consideration the current macroeconomic forecasts, it is likely we are heading towards a downturn period.

In turn, banks worldwide posted record-high provisions to prepare for significant rises in the number of nonperforming loans in their portfolios, likely resulting in higher credit losses. They will also need to accommodate for this downturn in their risk models, factoring in the influence on default rates and loss given default (LGD) levels.

To read the full article, please click here. The article is also available in the Summer 2020 print edition of International Banker.

BNY Mellon becomes the first US bank to offer the SWIFT gpi Case Resolution Service

BNY Mellon has collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. This offering marks another milestone in BNY Mellon’s commitment towards client-centric payment services and leading the path for other global payments innovation (gpi) initiatives.

“BNY Mellon is leading the way in automating payment processes, reducing the costs and time associated with managing payment inquiries,” said Michael Bellacosa, Global Head of Payments and Transaction Services, BNY Mellon. “This solution will vastly improve the time to resolve an inquiry, ensuring invoices are paid on time, reducing fraud, and better meeting client expectations.  Ultimately, creating straight-through processing for inquiries has been long overdue and will eventually become the global standard.”

Following outreach, the news was covered by FinExtra, FinTech Insights, Banking New York, Banking CIO Outlook, Supply & Demand Chain Executive, Money Transmitter Law, CTM File, IBS Intelligence, Financial IT, The Paypers, Documentary Credit World.

Sustainable finance granted new momentum by crisis, writes Commerzbank’s Say Huan Long in Renewables Investor

Sustainable finance had already been gaining momentum prior to the pandemic, but the current situation has prompted a greater sense of urgency around the need to transition towards a greener global economy. Long Say Huan, senior banker for financial institutions at Commerzbank, explores the role of financial institutions in driving this change in Renewables Investor.

The recent oversubscription of the Kookmin Bank’s COVID-19 Response Sustainability Bond, — the first COVID-related issuance by a non-sovereign institution in Asia — provides tangible evidence of growing interest among financial institutions in prioritising sustainable outcomes. Transitioning to a greener economy, argues Long, requires financial institutions’ perspectives to be adjusted to look beyond immediate commercial gains towards longer-term sustainable profitability.

Read more in Renewables Investor.

ICC announces executive appointment to lead Digital Standards Initiative, covered by the specialist press

The International Chamber of Commerce (ICC) Digital Standards Initiative (DSI) has announced the appointment of Oswald Kuyler as its Managing Director.

The ICC DSI – run out of ICC’s Singapore hub – will work towards the ambitious aim of establishing a globally harmonised, digitised trade environment – directly addressing disruptions experienced during the COVID-19 crisis as a result of the reliance of trade flows on paper documentation.

The news was covered by Trade Finance Global, TRF News, Ledger Insights, TXF, Financial IT, PYMNTS, Procurement Nation, Market Screener, Asia Customs and Trade, GTR, Supply and Demand Chain Executive,

How can banks successfully navigate the US liquidity landscape? BNY Mellon’s Tom Meiman and Sam Schwartzman explore in an article for Global Banking & Finance Review

Over the past 10 years, the US liquidity landscape has faced near zero interest rates. In this unique time of disruption, businesses face further challenges when it comes to navigating the volatile landscape – including the possibility of moving towards a negative rate.

In view of these challenges, Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets outlines the importance of optimising excess operating cash.

Read the full story here.

How can banks successfully navigate the US liquidity landscape? BNY Mellon’s Tom Meiman and Sam Schwartzman explore in an article for Global Banking & Finance Review

Over the past 10 years, the US liquidity landscape has faced near zero interest rates. In this unique time of disruption, businesses face further challenges when it comes to navigating the volatile landscape – including the possibility of moving towards a negative rate.

In view of these challenges, Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets outlines the importance of optimising excess operating cash.

Read the full story here.

In an article for Bobsguide, BNY Mellon’s Carl Slabicki explores the path to digital payments in the US

The US payments landscape is in the midst of significant change. A spark of new capabilities – including developments to existing payment rails, the dawn of real-time payments and the emergence of innovative overlay services – is transforming the entire payments ecosystem. What’s more, with the current challenging environment causing unprecedented disruption to manual processes, the value of moving away from paper-based payments towards faster, more streamlined digital alternatives has never been more apparent. With the stage set for the transition to digital, banks are being presented with the opportunity to revolutionise both payables and receivables for their clients.

As clients increasingly look to venture into the world of digital – leveraging tools including APIs, real-time payment capabilities and pre-validation technologies, Carl Slabicki, Head of Strategic Payment Solutions at BNY Mellon explores how banks must ensure that they can support the full breadth of client requirements.

Read the full article here