10:49 AM EST, 12/05/2024 (MT Newswires) -- Bank of New York Mellon ( BK ) and Conduent ( CNDT ) are launching a partnership to provide risk transfer services to support increasing transactions among corporate pensions.

The collaboration "enables seamless pension experience from administration to payments," the companies said Thursday in a statement.

BNY's payments and cash management services will combine with Conduent's ( CNDT ) pension account record keeping, transaction data management and customer service.

Financial details weren't provided.

Bank of New York Mellon ( BK ) shares rose 1.7%, and Conduent ( CNDT ) fell 1.9%

Price: 81.56, Change: +1.37, Percent Change: +1.70