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BNY said it launched digital transfer agency capabilities for digitally native funds and enabled a Pay-to-Wallet service during the third quarter. CEO Robin Vince described the moves as part of the bank’s effort to build more integrated client services; details on adoption, transaction volumes and financial impact were not provided in the earnings-call account.
BNY launched digital transfer agency capabilities for digitally native funds and enabled a cross-border Pay-to-Wallet service during the third quarter, CEO Robin Vince said October 15. The developments extend the bank’s fund servicing and payments platforms to on-chain assets and retail digital wallets, though BNY did not disclose usage or financial results for either service in the reported remarks.
The digital transfer agency platform extends BNY’s transfer agency services to support digitally native funds. In a July 29 release, the bank said it combines tokenization, distribution and custody and can support digital and traditional asset funds across jurisdictions and blockchains. Vince said on the earnings call that it carries BNY’s traditional fund servicing into on-chain markets and is intended to provide clients with a unified servicing experience.
BNY also enabled its Pay-to-Wallet capability during the quarter. According to a September 28 company release, banks can use the service to send cross-border payments from bank accounts to retail digital wallets. BNY said the service draws on its global payments capabilities and gives banks a way to offer these transfers without building the supporting infrastructure themselves.
The launches were presented as part of a broader change in how BNY develops services. Vince said the bank has spent the past few years moving to a platform operating model, bringing teams together to produce more integrated solutions. He described innovation as an increasingly important part of the company’s story, while also discussing continued use of its enterprise AI platform, Eliza, across internal processes.
New Routes Into Funds and Wallets
The two services address different points in the financial system: fund administration for on-chain assets and payments between banks and digital wallets. For fund managers and other institutional clients, digital transfer agency could provide access to BNY’s servicing functions as they work with tokenized or digitally native funds. For banks, Pay-to-Wallet offers a route to reach customers who hold value in retail wallets through cross-border transfers.
BNY’s stated approach is to build these capabilities into services it already provides, rather than describe them as standalone products. That could matter to clients seeking to connect newer digital-asset or wallet activity with established banking and fund operations. The available report, however, does not establish how many clients have adopted the services, how widely they are available, or whether they have generated material revenue.
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BNY’s Platform and AI Strategy
Vince linked the launches to a shift in the bank’s operating model over several years. He said changing how teams work was a prerequisite for innovation, with teams now developing more integrated solutions for clients. The earnings-call remarks framed the new capabilities as examples of that approach, rather than providing a detailed product roadmap.
BNY has also been expanding internal use of Eliza, its enterprise AI platform. The company reported in July 2025 that Eliza was introduced in fiscal 2024 and had been adopted by 96% of employees by the end of the first half of 2025. On October 15, Vince said the platform can account for process steps, system interactions and workflow patterns. He said BNY sees a future opportunity to extend some AI capabilities to clients, but did not announce a client-facing Eliza product alongside the fund and wallet services.
“Changing how we worked was a prerequisite, but innovation is an increasingly important element of the BNY story.”
— BNY CEO Robin Vince, on the October 15 earnings call
Adoption and Commercial Results
BNY’s reported remarks and cited releases do not specify how many clients are using either service, the volume or value of activity processed, or the revenue contribution expected from the launches. They also do not detail supported wallet providers, service rollout by market, or which jurisdictions and blockchains are currently available in practice. Those points remain unclear from the source material.
Vince described potential growth into new asset classes and possible future AI services for clients, but those are stated opportunities rather than reported outcomes. The available information does not quantify efficiency gains from Eliza or establish when any client-facing AI capabilities might be introduced.
Client Use Will Show Reach
The next evidence of the services’ reach will come from BNY’s disclosures about client adoption, transaction activity and availability. The October 15 call account did not identify a specific rollout timetable, usage target or next product milestone for digital transfer agency or Pay-to-Wallet. Further company updates may clarify those measures and the markets served.
BNY also says it is continuing to use Eliza across internal processes and sees potential to adapt AI capabilities for clients. Vince did not give a timeline for that work. For now, the announced fund and wallet capabilities are the concrete third-quarter developments, while their scale and business impact remain to be established.
Key Questions
What did BNY launch in the third quarter?
BNY said it launched digital transfer agency capabilities for digitally native funds and enabled a Pay-to-Wallet service for cross-border transfers from bank accounts to retail digital wallets.
What does BNY’s digital transfer agency platform support?
BNY said the platform combines tokenization, distribution and custody. Its July 29 release said it supports digital and traditional asset funds across jurisdictions and blockchains.
How does Pay-to-Wallet work for banks?
According to BNY, banks can use the service to send cross-border payments from bank accounts to retail digital wallets, drawing on BNY’s payments capabilities instead of building the infrastructure themselves.
Has BNY reported how widely the services are being used?
The reported earnings-call remarks do not include client counts, payment volumes, fund activity or revenue figures for either service. Their adoption and commercial impact remain unclear.
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