Cash Worldwide will allow customers to remit funds directly to beneficiaries in other countries using The Bank of New York Mellon's Remit Worldwide solution. Remit Worldwide allows clients to use BNYMellon's global payments experience, worldwide network of correspondent banks, and technology-rich remittance solution, while at the same time maintaining the integrity of their brand and retaining control over product pricing and service fees. Remit Worldwide is part of a portfolio of enterprise treasury services solutions that includes cash management, trade and back-office outsourcing services.
"The rich diversity of our client base makes remittances an important addition to our service offerings," said Jan Viano, president of First Midwest Bank's retail banking group, in a statement. "The Bank of New York Mellon's Remit Worldwide solution is an excellent way for us to better service the needs of our clients while maintaining tight controls over our expense, risk and technology exposure."