A NEW YORK-based asset management and securities firm has tapped BDO Remit as payout agent for its low-value payment processing platform.

BDO Remit will service the Bank of New York Mellon's Remit Worldwide, a product launched in February 2008 enabling client US retail banks to facilitate worldwide remittances.

The strategic partnership would mean a secure, reliable, and convenient remittance service, especially for the Overseas Filipinos working and residing all over the world.

Present during the signing of the memorandum of agreement were BNY Mellon EVP & Global Head of Sales and Relationship Management for Treasury Services David Cruikshank, BNY Mellon Managing Director & Head of Treasury Services for Asia Richard Brown, BNY Mellon VP & Chief Representative Teri Floro, BDO SVP & Head of Transaction Banking Group Ismael G. Estela, Jr., BDP VP & Unit Head of Financial Institution Peter C. Bautista Jr., BDO EVP & Head of Treasury Group Pedro Florescio III, BDO FVP & Head of Central Operations Group Trade Services Department Celia Sotto and BDO FVP & Head of Remittance International Operations Jonathan C. Diokno.