American asset manager BNY Mellon has teamed up with payments provider Volante Technologies to support real-time payments in the US and abroad.
The asset manager has harnessed Volante’s VolPay Hub technology to introduce two services as part of its efforts to modernise its payments infrastructure.
One of these payments modernisation efforts include BNY Mellon’s tie-up with The Clearing House to support real-time payments clearing and settlement. The asset manager also rolled out BNY Mellon Tokenized Payments, available with Zelle.
To foster these efforts, Volante partnered with BNY Mellon to develop its TCH RTP Processor Module. Volante said that its module will enable transactions to reach recipients in 15 seconds or less time.
Volante CEO Vijay Oddiraju said: “Implementing the first RTP processing hub in the US is the perfect example of collaborative teamwork between BNY Mellon and Volante, bringing greater value to BNY Mellon’s clients.”
“This successful deployment further reinforces our core principle of using automation to reduce implementation time and cost for our customers. Adding tokenised payments capability to BNY Mellon’s real-time payments technology platform is a further testament to how we continue to collaborate and help our customers build out their future payment capabilities.”