Some people question why supplier diversity efforts fail to meet goals with certain groups, such as African Americans or Hispanic American suppliers. BNY Mellon did not just question. The financial giant took action to increase spend with targeted diverse suppliers by implementing a Fast-Track Initiative.

BNY Mellon has a vibrant diverse supply chain, which explains the statement on its website that, “We are invested in the ambition, ingenuity and perspectives of diverse entrepreneurs.” The company is always working to tap into the innovation and unique perspectives of diverse suppliers as a competitive strategy. Constantly striving to grow diversity at multiple tier....