About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

BNY Mellon Report Explores Big Data in Finance, in the 21st Century

Subscribe to our newsletter

A report recently published by BNY Mellon – it’s available to anyone who request it from them – takes a look at big data, its definition and its potential, and “sketches its transformational influence on the 21st century global financial system, mainly from an asset management perspective.”

The report was written by Jack Malvey, chief global markets strategist for BNY Mellon Investment Management and director of the BNY Mellon’s Center for Global Investment & Market Intelligence (CGIMI); Ashish Shrowty, managing director, BNY Mellon corporate technology; and Lale Akoner, investment analyst, CGIMI.

Acknowledging that “the swift amplification of the big data din may foster doubts by some seasoned capital market veterans,” the report suggests that “over the long run, big data may come to be viewed as the successor to the internet in terms of revolutionary impact.”

Among other assertions, the report connects financial transactions with information: “Asset management and the entire financial services industry are extensions of the information and knowledge businesses, operating under a continuous state of uncertainty.”

Among the report’s predictions:

– Economic releases such as GDP, inflation, and industrial production may become more accurate (subject to less revision) and less surprising thanks to advance signals propagated via big data methods.

– Next-generation analytics (especially more rigorous time series, correlation, graphical, topological, and scenario analyses) will emerge.

– Intelligence garnered from big data techniques will have a profound influence on public and private sector users of capital markets as well as on consumers.

– Through visualisation-aided smart syntheses often in the burgeoning era of “dashboards,” big data will expand the “assimilation range” of even existing information by capital market professionals.

But along with these positive suggestions, comes a warning that: “As with any innovation, there will be constraints in the form of real-time data quality, privacy/confidentiality, transmission speed, overwhelming volumes, data scientist shortage, and security.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches for corporate actions automation

Demand for timely and accurate corporate actions data is growing as volumes and complexity rise, and financial institutions acknowledge the increasingly costly gap between accurate corporate actions processing in real, or near-real, time and faulty processing caused by poor data and resulting in missed opportunities to optimise revenue. While many firms currently process parts of...

BLOG

Pico Acquires Redline to Boost Market Data, Connectivity Offerings

Trading technology, data and analytics provider Pico has agreed to acquire trading and market data software specialist Redline Trading Solutions, for an undisclosed sum. The deal will bring together Pico’s global ultra-low latency infrastructure and network, underpinned by Corvil Analytics, with Redline’s high-performance software solutions for market data, execution and order routing. The combined offering...

EVENT

Data Management Summit Boston (Redirected)

As investment management firms take on more responsibility and control over core operational functions, A-Team has seen demand for a more buy-side oriented event focused on data and data management. The inaugural DMS Boston will take place in June 2020, and will focus on topics of interest to buy-side practitioners.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...