BNY’s Treasury Services business has been named a winner in Global Finance’s 2025 Financial Innovators Awards, receiving recognition for Top Innovation in Finance – North America for its Virtual Account Based Solutions (VABS). The award highlights BNY’s commitment to advancing treasury services through scalable tools that deliver real-world impact.
Launched in January 2024, VABS offers a suite of four integrated tools that enable clients to centralize cash management, automate reconciliation, streamline liquidity operations, and enhance virtual account reporting — all without the need to open multiple physical bank accounts. The offering enables real-time reporting at the virtual account level and allows for the efficient allocation of payments, helping clients save time, reduce complexity, and make faster decisions with greater control.
Joon Kim, Global Head of Trade Finance, Working Capital & Portfolio Management at BNY Treasury Services said: “This recognition reflects our commitment to solving real-world challenges for our clients. With Virtual Account Based Solutions, we are helping organizations rethink how they manage liquidity and achieve operational efficiency at scale without the need for complex, traditional account setups.”
BNY remains committed to delivering practical, client-focused innovations that address the evolving needs of today’s treasury environment. The recognition reflects the firm’s focus on supporting operational efficiency and digital transformation across the industry.