NEW YORK, Feb. 5, 2024 /PRNewswire/ -- BNY Mellon (NYSE:BK) and Microsoft are joining forces to transform capital markets and the broader financial services industry. Using Microsoft Azure cloud and BNY Mellon's extensive financial data and analytics capabilities the platform will provide BNY Mellon's buy side and sell side clients with a leading data management solution.
The global alliance between two of the world's leaders in their respective industries will help enable financial institutions to navigate complex market dynamics with precision and agility while enhancing risk management and optimizing operational efficiency.
As part of the expanded collaboration, the two companies will look to explore how artificial intelligence (AI) technologies can be incorporated for improved productivity and better-informed decision making.
With a focus on innovation and the expertise and platforms to help clients achieve their goals, BNY Mellon will also migrate its data and analytics workloads to Microsoft Azure.
"The technology and data ecosystems are becoming more complex, competitive and cost-intensive for our clients," said Akash Shah, Chief Growth Officer, BNY Mellon. "Combining BNY Mellon's data infrastructure and analytics services with Microsoft's cloud solutions will provide our buy side and sell side clients with a leading data management solution designed to offer deeper insights and actionable data that can help improve their investment performance, distribution reach, and risk management. For 240 years, we have been building new solutions to help our clients grow their businesses, and this is the latest step towards making investing more effective, easier, and less expensive."
As an organization with a dynamic culture focused on delivering solutions with excellence and speed, part of what led BNY Mellon to the Microsoft Azure platform is working with a cloud provider that is committed to a trusted and resilient cloud that serves the markets in which it operates.
Key details of the collaboration include:
- Innovative applications for data and analytics: BNY Mellon will take advantage of multiple technologies from Microsoft to develop next-generation data management and software products tailored to the unique needs of capital markets firms. This includes data and analytics associated with increasing investments in private markets and alternative assets. The integration of these advanced analytics capabilities will provide BNY Mellon's clients with near real-time, data-driven decision-making tools that can help improve agility and adaptability in the fast-evolving capital markets landscape.
- BNY Mellon's data and analytics suite fully available on the cloud: The collaboration will accelerate the release of BNY Mellon's next generation data and analytics cloud-based Software-as-a-Service (SaaS) offering. This will help clients fast-track their asset onboarding and take advantage of optimized data and analytics at scale. It will also provide clients with continuous integration and delivery of new features and upgrades.
"This strategic alliance underscores Microsoft's commitment to advancing the frontiers of cloud computing to drive transformative change across industries," said Karen Del Vescovo, Corporate Vice President & U.S. Financial Services Lead, Microsoft. "The collaboration with BNY Mellon sets the stage for a new era in capital markets, where the fusion of data analytics and emerging technologies, such as AI, powers unprecedented platform innovation and provides an ecosystem of capabilities across investment and data lifecycles."
This is the latest example of a longstanding relationship between BNY Mellon and Microsoft. The companies have spent years driving success for customers around the world, creating data, technology and content solutions for investment managers on Microsoft Azure.
About BNY Mellon
Established in 1784, BNY Mellon is America's oldest bank and the first company listed on the New York Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets around the world through comprehensive solutions that help clients manage and service their financial assets throughout the investment life cycle. BNY Mellon had $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2023. BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
Media Contacts
BNY Mellon: Jessica.thomas@bnymellon.com
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SOURCE BNY Mellon
