RTP is a new form of electronic money transfer that enables real-time deposits and withdrawals, giving broker-dealers and investors instant, 24/7/365, on-demand access to irrevocable and secure funds (subject to funds availability).

"Automation and efficiency are high priorities for investment professionals and consumers, so we are continually innovating and adding to our suite of digital payables and receivables functions for NetXInvestor®, like this BNY Mellon-developed RTP technology," says Ram Nagappan, CIO of BNY Mellon | Pershing.

BNY Mellon has been at the forefront of innovating in the digital payments space, including launching the first-of-its-kind real-time electronic billing and payment solution. The pioneering capability enables U.S. businesses to present digital bills to consumer clients in real-time and receive instant payment via their preferred online and mobile banking channels.

"We’ve seen incredible progress in client satisfaction since the launch of Real-Time Payments, plus it helps protect the environment by reducing the negative impacts of paper-based processes," says Carl Slabicki, Co-Head of Global Payments, Treasury Services, BNY Mellon. "This new application allows BNY Mellon to bring easy and accelerated money transfers to more of our clients and their investors."