The Bank of New York Mellon Corporation and Kanexa, a provider of automation solutions, have announced a strategic collaboration to deliver an advanced open account automation solution for corporations. This partnership integrates BNY Mellon's trade finance capabilities with Kanexa's automation technology.
The combined offering aims to streamline invoice approval processes, enhance operational efficiencies, and minimize errors, risks, and costs associated with existing trade processes. This initiative provides businesses with a comprehensive solution to automate and digitize their entire workflow.
Joon Kim, Global Head of Trade Finance Product & Portfolio Group at BNY Mellon, stated that providing a single point of entry is critical for global trade stability and efficiency. This collaboration is a key example of BNY Mellon leveraging digitization technologies to improve client experience and drive efficiencies in open account trade.
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