The Bank of New York Mellon Corporation and Conduent Incorporated have announced a strategic alliance to deliver end-to-end pension risk transfer services. This collaboration aims to connect insurers and pension acquirers with comprehensive solutions in a single, integrated system.
The new alliance combines BNY Mellon’s global payments and cash management capabilities with Conduent’s expertise in pension account record-keeping, transaction data management, and customer service for pension members. This unified approach is designed to simplify and de-risk pension transfer programs, which are becoming increasingly complex and costly to manage.
Carl Slabicki, Executive Platform Owner, Treasury Services at BNY Mellon, emphasized that clients are seeking solutions to simplify and de-risk these programs. This partnership leverages both companies' strengths to deliver a comprehensive package that supports clients through every stage of the pension risk transfer lifecycle, reducing liabilities, risks, and administration costs.
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