BNY Mellon and Microsoft have formed a strategic alliance to provide a cloud-based data and analytics platform to their buy and sell side clients.
As per the agreement, BNY Mellon will leverage Microsoft technology to create software and data management solutions customized for capital markets companies. The firm said that adding advanced analytics will give BNY Mellon’s clients tools for making decisions based on data in almost real-time. Through its SaaS offering, BNY Mellon’s data and analytics suite will also be completely accessible on the cloud.
The partners will investigate how AI can be used in the interim to boost output and facilitate more informed decision-making.