The new alliance will include an exploration of A.I. to improve productivity.
Custodian BNY Mellon and Microsoft are joining forces again to bring together Microsoft Azure cloud computing and BNY Mellon’s financial data and analytics capabilities, including an exploration of artificial intelligence (A.I.), officials say.
The companies have worked together before “creating data, technology, and content solutions for investment managers on Microsoft Azure,” officials say.
This latest agreement will let BNY Mellon “migrate its data and analytics workloads to Microsoft Azure,” according to the announcement.
The global alliance is intended to help “financial institutions to navigate complex market dynamics with precision and agility while enhancing risk management and optimizing operational efficiency,” officials say.
“As part of the expanded collaboration, the two companies will look to explore how artificial intelligence (A.I.) technologies can be incorporated for improved productivity and better-informed decision making,” officials add.
The collaboration will encompass:
- 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 advanced analytics are intended to provide BNY Mellon’s clients with “near real-time, data-driven decision-making tools;” and
- BNY Mellon data and analytics available via 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,” officials say. The SaaS offering to come “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.”
“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,” says Akash Shah, chief growth officer, BNY Mellon, in a prepared statement.
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