BNY Mellon, the oldest bank in the United States, has transferred all cashless transfers to the Microsoft cloud

In mid-October 2021, BNY Mellon Bank announced the transfer of cashless transfers to Microsoft's cloud infrastructure. This step expands the capabilities and at the same time increases the fault tolerance of its payment platform due to the introduction of an alternative workflow outside of physically located servers in processing centers, the credit institution said.

The company increases the fault tolerance of the bank's payment platform and the wider financial market infrastructure that it serves. The shift to the cloud is also the latest step in BNY Mellon's drive to digitize the payment industry with top technology customers like Microsoft. The company relies on its strong relationship with Microsoft, in which each company for many years of cooperation acted as a client and service provider for another.

BNY Mellon Bank has transferred all cashless transfers to the Microsoft cloud

Close cooperation with Microsoft Azure and our partners from Microsoft Treasury is another confirmation of our ambition to digitize the entire payment industry, making it faster, more transparent and sustainable for all market participants, "said Saket Sharma, Director of Information and Digital Technology at BNY Mellon Treasury.

Bank payments are the backbone of the global payment network, allowing institutions to move trillions of dollars around the world every day. So far, the infrastructure supporting these expensive payments has relied on local processing centers, and while they remain the backbone of payment functionality, the dramatic increase in payment activity during the pandemic-related trading volatility has drawn attention to how best to improve the resilience of critical market infrastructure.^[1]

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