Bank Of New York
Bank is not a new term to anyone as it is important to have a bank account for business and for personal use. A simple description of a bank is that it is a financial institution that provides different types of services to its customers. These services may include maintaining different types of accounts, paying money or cheques on behalf of the customers, receiving money and cheques on behalf of the customers. There is much more that banks offer like banks also help their customers in lending and borrowing of money. Whether you are in United States or any other country every country has its own system as in some countries banks own industrial corporations on the other hand in some countries like US it is prohibited for banks to own any non-financial company. This new era is all about, ATM, telegraphic transfer, telephonic banking, and EFTPOS.  All these valuable services are actually provided by banks to their customers in order to help them in their business activities.

Banks are also classified into categories as per their functions and activities which include business banking, investment banking, central banks, retail banking, and private banking. Business banking and corporate banking is responsible for providing different services to medium size business and large industries. In case of retail banking it helps small businesses and individuals in their business activities. Retail banking is further classified into different types which include community banks, community development bank, commercial bank, saving bank, postal saving bank and ethical banks etc. For investors, investment banking is a big support as it helps in buying and selling different financial securities and commodities. Private banking is responsible for providing services to high net worth individuals in managing their wealth and assets. On the other hand, central banks are the banks owned by the government of that country.

Though there are so many different banks that have been providing services for many years, there are some oldest banks too. BNY or BK stands for Bank Of New York, which was a global financial services company that existed until its merger with the Mellon Financial Corporation, on July 2007. Now the bank operates with a new name, the Bank of New York Mellon Corporation. There were four primary business areas in which BNY use to and still continues to do so. These primary business areas include Securities Servicing, treasury management, investment management and private banking. In order to find authentic facts and figure about the Bank Of New York, the best source is the web. All you need is to find otu the authentic sources from the web.   

The Bank Of New York was founded by Alexander Hamilton, on June 9, 1784. It won't be wrong if say that Bank Of New York is the oldest bank of united states of America. Alexander Hamilton was not only an active member of the organizations but he also wrote the constitution of the Bank Of New York. In order to find more don’t forget to visit its official website in order to know more about its products and services. Banking is changing with time and the success of Bank Of New York lies in the way they keep on changing with time too.