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