The Paypers

This offering marks BNY Mellon’s commitment towards client-centric payment services and leading the path for other global payments innovation (gpi) initiatives. Case Resolution, SWIFT’s cloud-based payment investigation and resolution service, expands its network-wide payments validation toolkit. It allows for dynamic query handling between banks on the SWIFT network and enables banks to resolve inquiries where operational, regulatory, or compliance information is incorrect or missing from payment instructions.

This offering automates the inquiry process, holding other parties in the payment chain accountable for responding within a pre-defined, reasonable timeframe. Inquiries take up 2% of BNY Mellon’s cross-border payment volumes, which consume time and effort to resolve. Case Resolution saves clients from this extra time and effort, as well as money on investigatory fees, and alleviates the frustration of having to wait for information, according to the official press release.

BNY Mellon offers SWIFT gpi Case Resolution service