BNY Mellon expands collaboration with Microsoft to enhance data platform

BNY Mellon and Microsoft are collaborating to expand and enhance the custodian’s data analytics platform.  

Using Microsoft Azure cloud and BNY Mellon’s financial data and analytics capabilities, the collaboration aims to bolster BNY Mellon’s data management solution for buy-side and sell-side clients.  

“The technology and data ecosystems are becoming more complex, competitive and cost-intensive for our clients,” said Akash Shah, chief growth officer at 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.” 

As part of the collaboration, the two firms will tap into artificial intelligence (AI) technologies that are designed to enhance productivity and to make more informed decisions.  

BNY Mellon will use multiple technologies from Microsoft to develop next-generation data management and software products tailored to the needs of capital markets firms. Additionally, BNY Mellon hopes to speed up the release of its ‘next-gen’ data and analytics cloud-based software-as-a-service (SaaS) offering, designed to help clients fast-track their asset onboarding and optimise data and analytics at scale.  

“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 & US 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.”  

BNY Mellon last collaborated with Microsoft in 2020, having built a front-office data solution on the Microsoft Azure platform, offering three services on distribution analytics, environmental, social and governance (ESG) data analytics, and a new cloud-based data vault.