BNY Mellon suffers payments glitch

BNY Mellon experienced problems with processing clients’ payments instructions – it blamed the issue on its connection to Swift. The problems were subsequently resolved. The bank issued a statement last Thursday saying the systems were fully functional and that additional back-up was established to minimise the risks of any disruptions in the future. However, no details about the cause of the problem were disclosed, beyond the statement that BNY Mellon “became aware of an issue that impacted our ability to send messaging to and from the Swift network”. Read more: