The Bank of New York Introduces Enhanced Inquiry and Reporting Functionality for Global Mass Payments Service
Expands Ca$H-Register Plus® CapabilitiesNEW YORK, October 12, 2006 -- The Bank of New York, a global leader in treasury management services, has introduced an enhanced online inquiry and reporting solution that allows clients using the Bank's Global Mass Payments service to access a wide variety of reports on their international payments activities. The new solution is available through CA$H-Register Plus®, the Bank's Internet-based cash management system.
The Bank of New York's Global Mass Payments solution provides clients with a highly efficient and cost-effective method for making cross-border electronic payments, such as dividends, payroll, pensions and other employee benefit payments. By offering Global Mass Payments reporting and inquiry through the CA$H-Register Plus suite of services, the Bank provides clients the means to view the status of their files and transactions, as well as gain access to a historical archive for transaction inquiries.
"Our new on-line reporting and inquiry capabilities are designed to provide immediate, on-demand access to customer service and account activity, which can streamline our clients' ability to actively monitor their cross-border payments and increases the effectiveness and efficiency of our interaction with clients," said Eric Kamback, executive vice president and head of global payment & trade services at The Bank of New York.
The Bank offers its Global Mass Payments service to government agencies and to large corporations with pensioners or employees living or working internationally. Two corporations currently using the service are British Airways and Crown Agents.
The Bank of New York's Global Payment Services Division's innovative services can help optimize cash flow, increase investment returns and support international trade for financial service companies, corporations and governments worldwide. The Bank of New York is one of the largest funds transfer banks in the U.S., transferring
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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