BNY Mellon and Microsoft have extended a long-term relationship with a collaboration that will see the bank using multiple Microsoft technologies to develop next-generation data management and software products tailored to the needs of capital markets participants.
The collaboration will accelerate the release of BNY Mellon’s data and analytics cloud-based Software-as-a-Service (SaaS) offering that will run on Microsoft Azure. The bank will also migrate its data and analytics workloads to Azure. Looking forward, the companies will explore how AI technologies can be incorporated for improved productivity and better-informed decision making.
“Technology and data ecosystems are becoming more complex, competitive and cost-intensive for our clients,” says Akash Shah, chief growth officer at BNY Mellon. “Combining our 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 investment performance, distribution reach, and risk management.”Details of the collaboration suggest the integration of BNY Mellon and Microsoft technologies will provide clients with real-time, data-driven decision-making tools that can help improve agility and adaptability in the evolving capital markets landscape. By putting BNY Mellon’s data and analytics suite fully on the cloud and accelerating the release of BNY Mellon’s data and analytics SaaS solution, clients will also be able to fast-track asset onboarding and take advantage of optimised data and analytics at scale. Finally, the collaboration will provide clients with continuous integration and delivery of new features and upgrades.
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