Verituity Joins BNY Mellon's Accelerator Program to Develop Solutions to Offer Faster, Smarter, Verified Payouts

Rhea-AI Summary

Verituity has joined BNY Mellon's Accelerator Program to enhance payment technology aimed at creating faster, verified payout solutions. This partnership focuses on delivering advanced disbursement capabilities through a cloud-based platform that emphasizes security and efficiency. With BNY Mellon supporting the integration of innovative payment solutions, Verituity aims to reduce fraud, lower costs, and improve customer satisfaction. BNY Mellon, managing $46.7 trillion in assets, seeks to revolutionize how businesses address digital payment challenges through collaborations with emerging tech companies like Verituity.

Positive

• Partnership with BNY Mellon's Accelerator Program to enhance digital payment solutions.
• Verituity's platform aims to reduce fraud and errors, thus boosting customer loyalty.

Negative

• None.

MCLEAN, Va., Feb. 2, 2022 /PRNewswire/ -- Verituity has joined BNY Mellon's Accelerator Program to work towards providing faster, smarter, verified payout solutions with the goal of setting a new industry standard in payments technology. BNY Mellon's Program seeks out the best emerging technology companies around the globe and collaborates with them on next-generation solutions that will address emerging business challenges.

Verituity's cloud-based platform powers accurate, first-time, and on-time payouts by elevating verification, intelligence, and compliance to the core of digital disbursements. The Verituity platform automatically handles the complexities of digital payouts while unlocking greater payment choice, increased efficiencies, and faster, safer disbursements.

"Given the significant advancements in the digital payments space, consumers and businesses increasingly expect payors to meet them on their preferred payment platforms," said Carl Slabicki, Managing Director of Strategic Payment Solutions at BNY Mellon. "We look forward to working with the Verituity team as we explore opportunities for new solutions that will help our clients harness the latest payment capabilities such as RTP^®, Account Validation Services and other payments services via a single integration."

"Verituity's faster, smarter, verified payouts platform reduces fraud and errors, lowers costs, and boosts customer loyalty for banks and their business clients," said Ben Turner, CEO, and Founder of Verituity. "We look forward to working with BNY Mellon to pursue verified digital payout solutions that will drive value for BNY Mellon, their clients and payees."

About Verituity
Headquartered in McLean, VA., Verituity is a cloud-based platform that connects banks, payers, and payees to first-time and on-time digital payouts and pay-by-anything experiences. Verituity's secure platform places verification at the core of digital payouts by seamlessly unifying and automating identity verification, payment choice, account verification, and verified payment orchestration so payers and payees can make or receive digital payouts with confidence and choice. For more information, please visit: verituity.com.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2021, BNY Mellon had $46.7 trillion in assets under custody and/or administration, and $2.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

RTP is a registered service mark of The Clearing House Payments Company L.L.C.

CONTACT:
Josh Zecher
josh@vrge.us  

View original content:https://www.prnewswire.com/news-releases/verituity-joins-bny-mellons-accelerator-program-to-develop-solutions-to-offer-faster-smarter-verified-payouts-301473920.html

SOURCE Verituity

FAQ

What is the significance of Verituity joining BNY Mellon's Accelerator Program?

Verituity's partnership with BNY Mellon aims to innovate digital payout solutions, enhancing payment technology and reducing fraud.

How does Verituity's platform improve digital payouts?

Verituity's platform focuses on secure, verified, and efficient disbursement processes, improving overall customer satisfaction.

What assets does BNY Mellon manage?

As of December 31, 2021, BNY Mellon managed $46.7 trillion in assets under custody and $2.4 trillion in assets under management.

What are the benefits of the collaboration between Verituity and BNY Mellon?

The collaboration is expected to unlock faster, safer digital disbursements and elevate payment verification methods.

What technology solutions are being developed through this partnership?

The partnership will explore solutions like real-time payments and account validation services.