As part of this advancement, BNY Mellon has developed a treasury cash management relationship with Microsoft Treasury built on the Azure cloud payment system. This cash management relationship establishes the capability to secure wire payments that are used for the orderly functioning of markets over cloud technology.
The migration into the cloud also represents the latest step in BNY Mellon's desire to digitise the payments industry with technology clients. Collaboration began at SIBOS 2019, when BNY Mellon and Microsoft set out to determine how wire payments infrastructure could be hosted in Azure as the first step in a larger cloud-based digitisation effort for payments.
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