BNY and Kanexa Collaborate to Deliver Open Account Automation Solution

NEW YORK, October 18, 2024 -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, and Kanexa, a leading provider of automation solutions, have today announced a strategic collaboration to provide corporations with an advanced open account automation solution.

Leveraging BNY's innovative trade finance capabilities and Kanexa's proven expertise in automation technology, this collaboration will provide businesses with a comprehensive solution to automate and digitize their entire workflow, thereby streamlining invoice approval processes and enhancing operational efficiencies. In addition, the combined offering aims to minimize errors, and reduce the risks and costs associated with existing processes.

"In a world of increasingly complex and global supply chains, providing businesses with a single point of entry is critical to the stability and efficiency of global trade," said Joon Kim, Global Head of Trade Finance Product & Portfolio Group at BNY. "By integrating Kanexa's capabilities with our global trade network and products, we are empowering businesses to drive efficiencies throughout their open account trade processes. This is another great example of how we're drawing on the latest digitization technologies to enhance the experience for our clients."

"Our platform enables companies to unlock new levels of efficiency and cost savings by automating their invoice approval processes," said Rob Barnes, CEO of Kanexa. "We are proud to work with BNY as we continue to evolve our solutions to meet the evolving needs of businesses. Our collaboration underscores our shared commitment to driving innovation and delivering tangible value to clients."

About BNY

BNY is a global financial services company that helps make money work for the world - managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of September 30, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.

About Kanexa

Kanexa is a leading cloud-based software company dedicated to transforming how businesses manage their open account processes and provide supply chain finance. Our cutting-edge platform automates financial workflows, enabling corporations and their supply chain partners to digitize critical operations, improve efficiency, support working capital needs, and enhance transparency across global networks.

Kanexa's secure and scalable cloud infrastructure is designed to integrate seamlessly with existing enterprise systems, empowering companies to digitize their financial processes and stay ahead in today's fast-paced digital economy. Trusted by global corporations, Kanexa continues to drive innovation, helping businesses unlock new levels of efficiency and growth. For more information, please visit kanexa.net or follow on LinkedIn.

This Press Release is issued by BNY to members of the press and media and the information contained herein should not be construed as investment advice or a recommendation of any investment strategy or product. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized.

Media Contact:

BNY

Saurav Karia

[email protected]

+44 (0) 7961 668 943

Kanexa

Leon Scott

[email protected]