BNY Mellon brokers strategic partnership with Microsoft

BNY Mellon announced a new partnership with Microsoft to focus on capital markets and financial services. Leveraging Azure and BNY’s proprietary technology, the company hopes to offer customers improved buy- and sell-side advanced data analytics capabilities.

BNY Mellon plans to use Azure to achieve improved scalability and offering a data analytics SaaS offering. It plans to develop new data management tools for capital management organizations. As part of the partnership, BNY Mellon will migrate its data analytics workloads to Azure and incorporate AI technologies.

The announcement is the latest in a string of Microsoft AI-related Azure cloud partnerships with companies such as Vodafone, Walmart, Siemens, Mercedes-Benz, Heineken and Moveworks. The announcement mirrors other major Microsoft partnerships for financial services, such as SWIFT.

“The technology and data ecosystems are becoming more complex, competitive and cost-intensive for our clients. 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,” stated Akash Shah, Chief Growth Officer, BNY Mellon.