BNY Mellon on Thursday unveiled a trio of cloud-based products meant to help clients generate higher returns and improve market share with portfolio customization through its recently formed cloud-based products group in collaboration with tech giant Microsoft.
The custodial banking giant also said that it has expanded its partnership with Microsoft to work on more offerings for investors, which will be done with Microsoft Azure, the company’s cloud-computing service.
The new products, which are available immediately through BNY Mellon Data and Analytics Solutions, include the Data Vault, a platform that managers can use for the “the rapid onboarding of data to provide greater flexibility and accelerate client innovation and discovery;” ESG Data Analytics, an offering that will use artificial intelligence to help with constructing portfolios based on environmental, social, and governance factors; and Distribution Analytics, an offering that will help asset managers figure out how to gain market share for their funds.
Roman Regelman, who is BNY Mellon’s head of asset servicing and digital, said that the offerings are intended to help clients with quicker market responses.
"Our clients want and need more flexibility in their cloud-based data solutions so they can remain agile to evolving market, client and regulatory changes," Regelman said in a statement. "Data Vault, Distribution Analytics and ESG Data Analytics were developed to help investment managers better manage and unlock value from their data.”
Microsoft’s Judson Althoff, who is executive vice president of its Worldwide Commercial Business, emphasized how the collaboration will benefit investment managers.
"We are pleased to collaborate with BNY Mellon on innovative cloud-based solutions built on Microsoft Azure to help their clients create alpha-generating opportunities and manage assets," Althoff said in a statement. "The scope and scale of BNY Mellon's investment data, coupled with our portfolio of Azure products and services, will lead to solutions that enhance data as an asset and optimize accessibility of information for investment managers."
The news marks the latest update in the two companies’ relationship. Last year, Microsoft picked BNY Mellon as the new custodian for its treasury group, a deal that involved supporting Microsoft's internal management of $130 billion in assets. The companies have also worked with financial-messaging service provider SWIFT on its Cloud Connect platform, which uses Azure. Last September, BNY Mellon said that a successful test transaction for it was completed.