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Insurance industry

Mellon Global Cash Management to Provide Comprehensive Accounts Receivable Solution to The St. Paul Companies

Strategic Insights

— 1 min read

The St. Paul Companies, a $38 billion asset insurance holding company, has partnered with Mellon Global Cash Management to provide its comprehensive accounts receivable solution. The solution will combine paper and electronic collections tailored to meet The St. Paul's specific collection needs. This partnership will utilize Mellon's nationwide lockbox network, electronic data interchange, Automated Clearing House network, wire transfers, and credit card authorization and settlement. The St. Paul will also have access to account information via Telecash ViewPoint, Mellon's Windows-based information reporting and transaction initiation service.

Key Takeaways:

  • Mellon Global Cash Management will provide a comprehensive accounts receivable solution to The St. Paul Companies, a $38 billion asset insurance holding company.
  • The solution will combine paper and electronic collections, including lockbox network, electronic data interchange, Automated Clearing House network, wire transfers, and credit card authorization and settlement.
  • The St. Paul Companies will have access to account information via Telecash ViewPoint, Mellon's Windows-based information reporting and transaction initiation service.
  • The solution is tailored to meet The St. Paul's specific collection needs.
  • Mellon is reaffirming its commitment to provide unique solutions for companies in the insurance industry.
  • The St. Paul Companies chose Mellon for its industry expertise and ability to implement a complete, integrated receivables solution.

Statistics:

  • The St. Paul Companies has 1998 assets of more than $38 billion and revenues of $9 billion.
  • Mellon Global Cash Management provides comprehensive cash management services to middle market to large multinational corporations, government agencies, nonprofit organizations, and financial institutions.
  • Mellon Bank Corporation has approximately $2.3 trillion in assets under management, administration, or custody, including approximately $390 billion under management.

Sources:

  • PRNewswire, March 3 - Mellon Global Cash Management SIGNS DEAL TO PROVIDE COMPREHENSIVE RECEIVABLES SOLUTION TO THE ST. PAUL COMPANIES.
  • Mellon Bank Corporation's website, mellon.com.

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