MUFG Union Bank Launches Online Platform to Streamline Issuing and Paying Agent Services
March 21 2016 - 11:00AM
Business Wire
MUFG Union Bank (the Bank) has launched IPA Port, a new online
platform that offers fully integrated issuing and paying agent
services (IPA) for issuers of USD commercial paper and certificates
of deposit. This easy to navigate platform delivers seamless
processing for issuance, interest, and maturity payment activities
using real-time data and transaction monitoring and reporting
through a single online source.
IPA Port is supported by the Bank’s knowledgeable, dedicated
client service and IPA development team, whose average of nearly 20
years industry experience positions them well to serve the program
needs and requirements of commercial paper and certificates of
deposit issuers. The team is headed by two industry veterans: Chris
Buechner and Richard Benjamin. Mr. Buechner has more than 20 years
of experience in the IPA marketplace and has served some of the
largest issuers in the industry; Mr. Benjamin brings a strong
background in IPA services with more than 12 years working with
issuers of all sizes and types.
With IPA Port, the Bank’s clients can issue and manage their USD
commercial paper and certificates of deposit programs using
straight through processing from the receipt of the issuance
through settlement with the Depository Trust Company (DTC). As a
direct participant of the DTC, the central securities depository of
the Depository Trust & Clearing Corporation (DTCC), MUFG Union
Bank offers the following services:
- Links to all major dealers in the U.S.
using the Pre-Issuance Messaging (PIM) network;
- High-performance standard and custom
reporting functionality;
- Activity reports available in multiple
formats: HTML, PDF, and DAT;
- High-level encryption that protects
customer transactions behind three layers of security;
- Complete system administration and
audit trails; and
- Controlled access to any function or
program based on a specific user.
“This new IPA online platform and complete service offering are
especially appealing to large corporations, financial institutions,
public finance organizations, and government entities that issue
USD commercial paper and CDs,” said Marianne Bamonte, Global Trust
Services Division Manager, MUFG Union Bank. “Our client service and
IPA development team, led by Chris and Richard, are excited to
provide an IPA product and operations that are streamlined from
start to finish with 24/7 access to account information. Our
dedicated team is focused on delivering continuous client
experience excellence and technical enhancements to remain best in
class.”
IPA Port is the integrated platform and product solution
provided by the Bank’s Issuing & Paying Agent services team
that is part of the Liquidity Agency Services solutions group
offered by the Global Trust Services Division. Global Trust
Services, along with Treasury Management and Trade Finance,
comprise the Transaction Banking Division of MUFG Union Bank, which
provides clients with working capital management, trade, and asset
servicing solutions.
Additional information and more details on the IPA services are
available at www.mufgamericas.com/ipa.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices
across the United States. We provide a wide spectrum of corporate,
commercial and retail banking and wealth management solutions to
meet the needs of customers. We also offer an extensive portfolio
of value-added solutions for customers, including investment
banking, personal and corporate trust, global custody, transaction
banking, capital markets, and other services. With assets of $115.4
billion, as of December 31, 2015, MUFG Union Bank has strong
capital reserves, credit ratings and capital ratios relative to
peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ
Financial Group (NYSE: MTU), one of the world’s largest financial
organizations with total assets of approximately ¥295.8 trillion
(JPY) or $2.5 trillion (USD)¹, as of December 31, 2015. The
corporate headquarters (principal executive office) for MUFG
Americas Holdings Corporation, which is the financial holding
company and MUFG Union Bank, is in New York City. The main banking
office of MUFG Union Bank is in San Francisco, California.
1 Exchange rate of 1 USD=¥120.6 (JPY) as of December 30,
2015
Certain products and services described in this document are
provided by MUFG Union Bank, N.A., a member of the Mitsubishi UFJ
Financial Group (MUFG), and are marketed under MUFG and Union Bank®
brands. Online applications supporting these products are branded
Union Bank. Other products and services mentioned may be offered
and marketed by other MUFG entities.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160321005124/en/
MUFG Union BankJane Yedinak,
+1-415-773-2497jane.yedinak@unionbank.com
Mitsubishi UFJ Financial (NYSE:MUFG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mitsubishi UFJ Financial (NYSE:MUFG)
Historical Stock Chart
From Apr 2023 to Apr 2024