BNY Mellon is to provide private label trade processing services to US-based KeyBank.

The range of services being provided by BNY Mellon integrates the essential components of letter of credit (L/C) and documentary collection transactions into a single platform.

Service offering

Specific outsourcing services being provided to KeyBank include a web-based L/C information delivery and document management system and a web-based trade L/C portal.

BNY Mellon will also provide a web-based system for documentary collections, document review, funds transfer and trade reporting.

Benefits

The US bank headquartered in Cleveland, Ohio chose BNY Mellon "because of its strong trade processing, outsourcing experience and track record," according to head of the product group for KeyBank's Global Trade Services, Sandy Marrone.

Head of global trade processing products for BNY Mellon's Treasury Services group, Joon Kim,said that for Keybank, providing clients with trade processing support that reflects high standards of operational and technical expertise is becoming increasingly important.

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