Nostro and vostro accounts

BNY Mellon Launches Virtual Account-Based Solutions

Retrieved on: 
Monday, January 29, 2024

NEW YORK, Jan. 29, 2024 /PRNewswire/ -- BNY Mellon (NYSE: BK) announced today the launch of Virtual Account Based Solutions, a new cash management solution providing clients with enhanced access to and control of cash administration activities and reporting capabilities. This marks another innovative solution designed to make money work more smoothly for treasurers globally, solving their complex payments and financing needs.

Key Points: 
  • NEW YORK, Jan. 29, 2024 /PRNewswire/ -- BNY Mellon (NYSE: BK) announced today the launch of Virtual Account Based Solutions, a new cash management solution providing clients with enhanced access to and control of cash administration activities and reporting capabilities.
  • Virtual accounts are linked to physical accounts within BNY Mellon and allow incoming or outgoing payments to be reflected in real time, to maintain a virtual sub-ledger that provides a continuously updated transaction and balance history to deliver transparency into company-wide cash flows.
  • "Clients are demanding more flexibility to reflect account structures without having to open a multitude of physical accounts with multiple banks," said Jennifer Barker, Global Head of Treasury Services at BNY Mellon.
  • BNY Mellon's Virtual Account-Based solutions supports a variety of industry use cases.

Phoenix Holdings Publishes 2022 Financial Statements and Reports Comprehensive Income of NIS 1.1 Billion with Dividend Distribution, Despite Capital Market Declines

Retrieved on: 
Thursday, March 23, 2023

As of December 31, 2022, equity capital totaled NIS 10.1 billion, following the NIS 160 million dividend distribution from 2022 first half income and a share buyback of NIS 56 million.

Key Points: 
  • As of December 31, 2022, equity capital totaled NIS 10.1 billion, following the NIS 160 million dividend distribution from 2022 first half income and a share buyback of NIS 56 million.
  • Profit from operations (before tax) amounted to NIS 1,796 million in 2022 and NIS 458 million in the fourth quarter of 2022.
  • The comprehensive income in 2022 and in the fourth quarter of 2022 amounted to NIS 611 million and NIS 115 million, respectively.
  • The decrease in comprehensive income before tax in 2022 and in the fourth quarter of 2022 amounted to NIS (958) million and NIS (202) million, respectively.

SmartStream launches AI-enabled Account Control solution to meet ISO 20022

Retrieved on: 
Tuesday, October 11, 2022

Built for ISO 20022 standards, TLM Aurora Advanced Account Control not only accepts larger data sets natively, it also underpins them with the introduction of a streaming platform allowing for the data to be verified for other areas of the organisation.

Key Points: 
  • Built for ISO 20022 standards, TLM Aurora Advanced Account Control not only accepts larger data sets natively, it also underpins them with the introduction of a streaming platform allowing for the data to be verified for other areas of the organisation.
  • This sets a new benchmark in terms of real-time and volume handling capabilities, as well as savings in the overall cost-of-ownership.
  • Roland Brandli, Strategic Product Manager, SmartStream states: When speaking to clients two things are key - reduction of operational risk and to lower cost.
  • The new solution will seamlessly replace SmartStreams Cash solution which is currently used in more than 81 countries globally.

Phoenix Holdings Reports Results for the Second Quarter and First Half of 2022

Retrieved on: 
Friday, August 26, 2022

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE: PHOE) (The Phoenix, the Group, or the Company), today reported its results for the second quarter and first half of 2022.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE: PHOE) (The Phoenix, the Group, or the Company), today reported its results for the second quarter and first half of 2022.
  • In accordance with our semi-annual dividend policy, the Phoenix is distributing 160 million NIS, in addition to the share buyback program.
  • The total comprehensive income to shareholders in the second quarter of 2022 and the first half of 2022 amounts to 184 million NIS and 537 million NIS, respectively, with a return on equity to shareholders of 7.9% and 11.4%, respectively.
  • In the second quarter of 2022, the Phoenix recorded an underwriting profit of 73 million NIS in the general insurance sector.

Phoenix Holdings Reports Results for the First Quarter of 2022

Retrieved on: 
Tuesday, May 31, 2022

Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (Phoenix or Company), today reported its results for the first quarter of 2022.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based diversified financial, insurance, and investment group (TASE: PHOE) (Phoenix or Company), today reported its results for the first quarter of 2022.
  • In 2022, Phoenix Holdings will distribute dividends to its shareholders semiannually, based on 30% of the annual comprehensive income.
  • Phoenix Holdings reports its financial results for the Q1 2022 reflecting the continued execution of the strategic plan.
  • Phoenix Holdings is a leading Israel-based diversified financial, insurance, and investment group traded on the Tel Aviv Stock Exchange (TASE: PHOE).