BNY Receives Four Awards from The Banker

BNY named Best Bank for Cash Management by The Banker among other honors

BNY, a global financial services company, has been recognized with four awards from The Banker. At the 2024 Transaction Banking Awards, BNY received awards for Best Bank for Cash Management - Global, a first win in this category for BNY, and Best Bank for Transaction Banking - North America. At the 2024 Innovation in Digital Banking Awards, BNY was also named, for the first time, Most Innovative in Financial Wellness and recognized for the Most Innovative Bank/Fintech partnership, highlighting the strategic alliance with MoCaFi®, a Black-founded fintech platform leading financial empowerment for traditionally underserved communities.

Digital transformation remains an area of focus in the global transaction landscape. In the recently launched 2024 BNY Voice of Community Banks survey, nearly 35% of banks said they intend to employ new technologies to stay competitive. BNY is embracing digitization with innovations such as Vaia, its global disbursement solution, and Virtual Account Based Solutions, a cash management solution providing clients with enhanced access to and control of cash administration activities and reporting capabilities.

BNY's Treasury Services business supports the strategic alliance with MoCaFi to provide federal, state and local governments, as well as corporate clients, with a digital disbursement payment service that reaches individuals without current access to basic financial services through MoCaFi's platform.

"These recognitions from The Banker underscore our commitment to innovation, bringing new solutions to our clients, and, through the application of those offerings, to provide financial services which benefit unbanked and underbanked communities, through our collaboration with MoCaFi," said Carl Slabicki, Executive Platform Owner, Treasury Services at BNY.

The Banker's Innovation in Digital Banking Awards recognize the most innovative banks across the world for their digital banking initiatives in multiple categories. The Transaction Banking Awards celebrate how banks worldwide are meeting the needs of their financial institutions and corporate clients through innovative products and solutions.