BNY and Conduent to Deliver End-to-End Pension Risk Transfer Solution to Support Increasing Transactions among Corporate Pensions
2024年12月5日 - 10:43PM
ビジネスワイヤ（英語）
As pensions become increasingly costly and
difficult to manage, companies can de-risk their balance sheets by
transferring pensions to insurers and pension acquirers
New collaboration enables seamless pension
experience from administration to payments
The Bank of New York Mellon Corporation (“BNY”) (NYSE: BK), a
global financial services company, and Conduent Incorporated
(Nasdaq: CNDT), a global technology-led business solutions and
services company, have today announced a strategic alliance to
connect insurers and pension acquirers with end-to-end pension risk
transfer services in one place.
The new strategic alliance combines BNY’s leading global
payments and cash management capabilities with Conduent’s expertise
in maintaining the records for pension accounts, managing
transaction data and ability to provide customer service for
pension members. The collaboration provides insurers and pension
acquirers access to an end-to-end pension risk transfer solution
that operates in a single, comprehensive system.
“In an increasingly complex pension transfer risk market, we see
that clients are on the constant lookout for solutions that can
simplify and de-risk these programs,” said Carl Slabicki,
Executive Platform Owner, Treasury Services at BNY. “By drawing
on BNY’s platform infrastructure for payments and cash management
services, and Conduent’s integrated administration expertise, we
are able to deliver a unified, end-to-end package that supports
clients through every stage of the pension risk transfer
lifecycle.”
“Companies with defined benefit programs face high maintenance
costs, risk and challenges in managing those plans,” said John
Larson, Vice President of Total Benefits at Conduent. “The
collaboration with BNY offers both the insurance market and defined
benefit plan sponsors a seamless solution underpinned by Conduent’s
more than 40 years of experience in providing administration
services for complex defined benefit programs. Companies and their
insurers or pension acquirers can reduce liabilities, risks and
administration costs while Conduent and BNY provide stellar support
to plan participants.”
To learn more, please visit the BNY website here and Conduent
website here.
About BNY
BNY is a global financial services company that helps make money
work for the world – managing it, moving it and keeping it safe.
For 240 years BNY has partnered alongside clients, putting its
expertise and platforms to work to help them achieve their
ambitions. Today BNY helps over 90% of Fortune 100 companies and
nearly all the top 100 banks globally to access the money they
need. BNY supports governments in funding local projects and works
with over 90% of the top 100 pension plans to safeguard investments
for millions of individuals, and so much more. As of September 30,
2024, BNY oversees $52.1 trillion in assets under custody and/or
administration and $2.1 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). Headquartered in New York City, BNY employs
over 50,000 people globally and has been named among Fortune’s
World’s Most Admired Companies and Fast Company’s Best Workplaces
for Innovators. Additional information is available on www.bny.com.
Follow on LinkedIn or visit the BNY Newsroom for the latest company
news.
About Conduent
Conduent delivers digital business solutions and services
spanning the commercial, government and transportation spectrum –
creating valuable outcomes for its clients and the millions of
people who count on them. The Company leverages cloud computing,
artificial intelligence, machine learning, automation and advanced
analytics to deliver mission-critical solutions. Through a
dedicated global team of approximately 55,000 associates, process
expertise and advanced technologies, Conduent’s solutions and
services digitally transform its clients’ operations to enhance
customer experiences, improve performance, increase efficiencies
and reduce costs. Conduent adds momentum to its clients’ missions
in many ways including disbursing approximately $100 billion in
government payments annually, enabling 2.3 billion customer service
interactions annually, empowering millions of employees through HR
services every year and processing nearly 13 million tolling
transactions every day. Learn more at www.conduent.com.
Conduent is a trademark of Conduent Incorporated in the United
States and/or other countries. Other names may be trademarks of
their respective owners.
Important Information
This press release is qualified for informational purposes only.
It does not constitute an offer or solicitation of securities or
investment services or an endorsement thereof in any jurisdiction
or in any circumstance in which such offer or solicitation is
unlawful or not authorized. This press release is issued by BNY to
members of the financial press and media and the information
contained herein should not be construed as investment advice.
Trademarks
Conduent is a trademark of Conduent Incorporated in the United
States and/or other countries. Other names may be trademarks of
their respective owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241205185509/en/
Media: Conduent Lisa Patterson
lisa.patterson@conduent.com
BNY Saurav Karia saurav.karia@bny.com
Bank of New York Mellon (NYSE:BK)
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から 11 2024 まで 12 2024
Bank of New York Mellon (NYSE:BK)
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