About a-team Marketing Services

A-Team Insight Blogs

Capgemini Signs up BNY Mellon to Reference Data Utility Platform

Subscribe to our newsletter

Capgemini has signed up BNY Mellon as the second client of its reference data validation utility, according to sources familiar with the arrangement. The deal is an important one for Capgemini – which acquired the utility as part of its $4 billion acquisition of iGate two years ago – as it marks the first commercial uptake since the initial lift-out of UBS’s data management platform to create the utility in 2013.

The BNY Mellon win lends credibility to Capgemini’s capability in the utility space, moves it into closer competition with the SmartStream RDU, and ends a lengthy industry conversation about whether the utility could gain traction in the market. It also provides proven choice for firms evaluating reference data utility services going forward.

A Capgemini spokesperson in New York – where the deal was sealed – declined to comment on the deal beyond saying the company does not acknowledge or discuss work it does for its clients. A BNY Mellon spokesperson also declined to comment.

Capgemini acquired iGate early in 2015, making it one of the world’s largest consultancy and IT services firms and giving it a stake in the reference data utility market. With a serious win under its belt, the company now will be keen to establish the utility as a viable competitor to the SmartStream RDU, which itself made limited progress until three large banks – Goldman Sachs, JPMorgan Chase & Co, and Morgan Stanley – invested in the platform and its development as utility users.

For BNY Mellon, the deal advances data management strategy and circles back to earlier involvement with the initial developers of the reference data utility, particularly Markit EDM, whose platform formed the original basis for the iGate utility and provided BNY Mellon Asset Management with its first enterprise data management solution back in January 2014.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: In data we trust – How to ensure high quality data to power AI

Artificial intelligence is increasingly powering financial institutions’ processes and workflows, encompassing all parts of the enterprise from front-office to the back-office. As organisations seek to gain a competitive edge, they are trialling the technology in variety of ways to streamline and empower multiple use cases. Some are further than others along the path to achieving...

BLOG

Standards and Identifiers Help to Prevent ‘Data Chaos’: Webinar Preview

Financial institutions’ absorption of ever-greater volumes of data, and their utilisation of it in a surging number of use cases, is putting strains on their data management processes. Taking the friction out of those workflows can improve performance substantially. But the absence of a unified international set of standards to ensure all data used by...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...