Real-Time Payments (RTP) technology is being incorporated by BNY Mellon Pershing into its NetXInvestor® platform, which is an investor portal utilised by broker-dealer and registered investment advisor companies to assist clients in managing their portfolios.
RTP is a novel method of electronic money transmission that allows for real-time deposits and withdrawals, allowing brokers, dealers, and investors rapid access to secure, irrevocable monies whenever they need it, around-the-clock (subject to funds availability).
According to Ram Nagappan, CIO of BNY Mellon | Pershing, “Automation and efficiency are high priorities for investment professionals and consumers, so we are constantly innovating and adding to our suite of digital payables and receivables functions for NetXInvestor®, like this BNY Mellon-developed RTP technology.”
BNY Mellon has been at the forefront of innovation in the field of electronic payments, having introduced the first real-time electronic billing and payment solution of its kind. With this ground-breaking capacity, American companies can instantly offer digital bills to customers and receive payments using their preferred online and mobile banking channels.
According to Carl Slabicki, Co-Head of Global Payments, Treasury Services, BNY Mellon, “We’ve witnessed great progress in client satisfaction since the launch of Real-Time Payments, plus it helps protect the environment by eliminating the negative impacts of paper-based operations.” “With the help of this new application, BNY Mellon is able to make money transfers quick and simple for a larger number of our clients and their investors.”