BNY Mellon and Fiserv, one of the world’s leading providers of payment technology and financial services, have teamed up to provide additional real-time exchange rate quotes for their payments. US financial institutions.
With innovative application programming interfaces (APIs) connectivity, financial institutions leverage Payment Exchanges: Fiserv exchange services can now seamlessly access BNY Mellon real-time exchange rate quotes in over 120 currencies with no further integration required. This new offering gives US financial institutions the ability to perform currency conversions for cross-border payments with instant exchange rate visibility.
“One of the main challenges for U.S. financial institutions looking to access real-time FX rate quotes for payments is that the costs associated with integrating to a banking partner can be prohibitive,”
“We are addressing this head-on through new integration which enables institutions to provide clients with streamlined, real-time FX rate quotes to facilitate cross-border payments.”
Isabel Schmidt, Global Co-head of Payments at BNY Mellon.
BNY Mellon’s real-time exchange rate quotes are designed to be configurable, providing tailored service for cross-border payments. In addition to transaction tracking and reporting tools, financial institutions can access detailed payment status to enhance the support experience and bring more transparency to their customers with tools. Online by BNY Mellon.
Payment exchange: Fiserv Forex Services is a flexible, web-based solution for end-to-end international transfers, minimizing the time and effort required to manage global payments. This solution eliminates manual processes with the added benefit of one-step electronic entry for forex transactions.
“Financial institutions need cost-efficient solutions to meet the increasing demand for payments in foreign currency,”
“With Payments Exchange: Foreign Exchange Services, banks and credit unions can access multiple options to facilitate foreign exchange payments for their clients without needing to integrate with multiple third-party providers platforms or systems.”
Laura Clary, Vice President of Enterprise Payments Solutions Product Management at Fiserv.