The Bank of New York (BNY) Mellon has formed a strategic partnership with Microsoft to help financial service institutions advance digital transformation using cloud and artificial intelligence technologies.
BNY Mellon will integrate its financial data and analytics capabilities with the Microsoft Azure cloud to provide its clients with a data management software-as-a-service solution that will help them to navigate changing market dynamics whilst minimising risk.
The two firms will also identify how AI can be integrated to aid productivity and enable better-informed decision making for financial services employees.
“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.”