Leah Ewasko

BNY Mellon today launched Vaia, its new aggregated payment platform that gives U.S.-based institutions access to the latest digital payment options for disbursements.

Through a single integration with BNY Mellon, institutions can now provide their payees with access to Vaia’s wide range of payment choices – including real-time payments via RTP^®, Same-Day ACH, Tokenized Payments with Zelle^®, and debit cards – all on a client-branded front end. This could significantly reduce the time and resources needed for businesses to connect with all available payment rails.

“End customers want greater choice in how they are paid, but with so many digital payment options emerging, businesses are struggling to stay up to date with, and connected to, the latest capabilities,” says Jennifer Barker, CEO of Treasury Services at BNY Mellon. “Vaia does the heavy lifting to ensure that our clients’ end customers always have access to the latest suite of digital payment options.”

The new platform was built in collaboration with Verituity, a cloud-based solution that connects banks, payers, and payees to first-time and on-time digital payouts. Earlier this year, BNY Mellon announced that Verituity had joined its Accelerator Program, which fosters collaboration with the best developing technology companies to create next-generation solutions for emerging business challenges.

Vaia leverages BNY Mellon’s Account Validation Services to verify payee identities and validate accounts end-to-end, helping to mitigate payment fraud and deliver a safe and efficient payment process.

Going forward, Vaia will also continue to add the latest payment innovations to its portfolio of solutions, ensuring that clients and their payees have access to the most up-to-date digital payment options.

Vaia is currently available to BNY Mellon clients in the U.S., with plans to support cross-border payments in future roll-out phases.

About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Sept. 30, 2022, BNY Mellon had $42.2 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).

Additional information is available on www.bnymellon.com.

RTP is a registered service mark of The Clearing House Payments Company L.L.C.

Zelle^® and the Zelle^® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Contact:
Nina Truman
[email protected]
+1 646 541 6713

SOURCE BNY Mellon

Our CEO Ben Turner joined host Heather Bodie on PayPod: The Payments and Fintech Podcast to talk about the challenges facing large payers in delivering secure, seamless payout experiences and how Verituity’s Zero Trust Verification increases the simplicity and safety of payouts.

Listen to the full episode here. 

Verituity, the digital payout platform that delivers first-time and on-time, verified payouts and intelligent pay-by-anything, today announced its inclusion on DCA Live’s 2022 Red Hot Companies list. The annual award, now in its seventh year, recognizes the Washington, D.C. area’s fastest growing and most exciting companies across cybersecurity, big data, fintech, proptech, and health care.

This is the second year in a row that Verituity has been recognized by DCA Live for its work to transform the $200 billion payouts industry. Verituity was named alongside 46 other companies for its growth and ability to attract capital and top talent. The 2022 Red Hot Companies award winners will be celebrated at a ceremony on July 20 in Rosslyn, VA.

“This recognition is testament to our core belief that our customers don’t have to change how they conduct business in order to modernize and offer payees the choice of how and when they want to be paid,” said Ben Turner, founder and CEO of Verituity. “We are proud to be recognized for a second time alongside so many inspiring companies in the region and look forward to continuing our work to transform the payouts industry.”

“We are excited to have Verituity back on the list this year. Ben and his team have done a tremendous job and we can’t wait to see what is next for the company,” said Doug Anderson, founder and president of DCA Live.

Verituity connects banks, businesses, and payees to first-time and on-time verified payouts and intelligent pay-by-anything experiences. The cloud-based, white-labeled platform allows payers to customize the payout experience and payees to receive payments in the manner that best suits them. Verituity’s proprietary Holistic Verification^TM mitigates fraud, errors, and data gaps and increases payout success by +55%. The platform lowers the cost of payouts by helping clients move away from costly and inefficient paper checks. Verituity is working to revolutionize the payouts space by reducing risk and complexity, improving payee satisfaction through intelligent pay-by-anything, and radically accelerating digital transformation through connect-to-anything technology that speeds up go to market efforts and lowers cost.

ABOUT VERITUITY
Headquartered in McLean, VA., Verituity is a cloud-based platform that connects banks, businesses, and payees to first-time and on-time verified payouts and intelligent pay-by-anything experiences. Verituity’s secure platform places verification at the core of digital payouts by seamlessly unifying and automating identity verification, payment choice, account verification, and verified payment orchestration so payers and payees can make or receive digital payouts with confidence and choice. For more information, please visit: www.verituity.com.

Our Founder and CEO Ben Turner sat down with Noah Labhart, the host of Code Story, to chat about Verituity’s origin story and how we are driving first-time and on-time verified payouts and intelligent pay-by-anything as an industry standard.

In this episode, Ben talks about:

-How Verituity seamlessly integrates with companies so they can modernize their payouts without having to change their businesses, reducing costs and increasing customer satisfaction

-The lessons he’s learned as an entrepreneur

-Why Benjamin Franklin is an inspiration for fintech companies

Listen to the full podcast episode here.