BNY Mellon has suffered its second payment processing glitch in the past 18 months as it attempted to move its daily amount of $ 1.6tn through its subsidiaries . The financial institution handles payments in over 100 currencies with 2,000 partner banks worldwide , keeping nearly $ 26tn under assets for payment . According to recent research , it has been 40 years since automated domestic payment processing has been introduced , a pertinent issue as its technical staff experiences problems .
BNY Mellon has suffered its second payment processing glitch in the past 18 months as it attempted to move its daily amount of $1.6tn through its system. The financial institution handles payments in over 100 currencies with 2,000 partner banks worldwide, keeping nearly $26tn under assets for clients. According to recent research, it has been 40 years since US domestic payment processing has been updated, a pertinent point as its technical capacity experiences problems.