BNY Mellon, a leading investment management company, has created a Global Innovation Group in its Treasury Services business in a bid to secure its position as a leader in incorporating new ideas and technologies that bring the best possible service to its clients.
"It's clear that the global payments industry is undergoing a dramatic change as new technologies are being introduced, global payments are rapidly increasing, and banks are under unprecedented pressure to improve the payments experience they deliver to their clients," said Ian Stewart, executive vice president of BNY Mellon and chief executive officer of the Treasury Services business. "The Global Innovation Group was created to help us meet the challenges of this period of transformation."
The new group is part of the Treasury Services' Global Product Management sector and will work closely with product management groups to bring new capabilities to clients. BNY Mellon said that Christopher Mager, head of market segments in the Treasury Services business, will lead the group and will report to Anthony F. Brady, managing director and global head of product management.
Mager will be responsible for driving Treasury Services' global innovation process which includes management of strategic innovation projects, identifying and screening promising business concepts, evaluating and implementing new technology, assessing financial technology firms (fintechs), and developing and guiding the group's thought leadership around emerging payment technologies such as blockchain and distributed ledgers.
"The global innovation team will play a key role in the launch of new technologies that will enhance the competitiveness of BNY Mellon's Treasury Services group," said Brady. "Innovation is vital to our ability to deliver market-leading solutions to clients so that we can continue to grow existing relationships and build new ones. Innovation also is critical to growing client satisfaction and the Treasury Services business."
