BNY Mellon and Microsoft are teaming up to change how money markets and other money-related services work. They will use Microsoft Azure cloud and BNY Mellon's big money data and analytics to create a platform for BNY Mellon's buy-side and sell-side customers.

Streamlining Financial Data Management

This partnership brings two companies together to help financial institutions handle complicated market changes better. They want to make risk management easier and help businesses work more efficiently.

The plan is to use artificial intelligence (AI) to help businesses be more productive and make better decisions. BNY Mellon will also move its data and analytics work to Microsoft Azure.

Akash Shah, the Chief Growth Officer at BNY Mellon, said the technology and data world is getting harder and more expensive for customers. By combining their data and Microsoft's cloud, they aim to give clients better data and insight to improve how they invest and manage risk.

BNY Mellon will use different Microsoft technologies to create new data management and software products for finance companies. This includes dealing with private markets and other investments. These tools will help clients make faster decisions using real-time data. BNY Mellon and Microsoft plan to make BNY Mellon's data and analytics tools available on the cloud. This means clients can easily use the services and get updates quickly.

"This strategic alliance underscores Microsoft's commitment to advancing the frontiers of cloud computing to drive transformative change across industries," said Karen Del Vescovo, the Corporate Vice President & U.S. Financial Services Lead, Microsoft. "The collaboration with BNY Mellon sets the stage for a new era in capital markets, where the fusion of data analytics and emerging technologies, such as AI, powers unprecedented platform innovation and provides an ecosystem of capabilities across investment and data lifecycles."

.@BNYMellon and @Microsoft have teamed up to transform capital markets, using Microsoft’s @Azure cloud and BNY Mellon’s extensive financial data and analytics capabilities. Learn more: https://t.co/hwR1b1lGFe

— Microsoft Stories and News (@MSFTnews) February 5, 2024

BNY Mellon Launches Universal FX Platform

BNY Mellon launched Universal FX, a platform aiding FX management, portfolio efficiency, and market transparency, as reported by Finance Magnates. It caters to diverse segments like investment and wealth management, adapting to industry shifts towards T+1 settlement. Jason Vitale, the Head of Global Markets Trading, highlighted the challenges of fragmented portfolios, emphasizing transparency and consistency.

With Universal FX and OneFX, clients consolidate portfolio management for better insights and smoother execution. The platform grants access to global currency execution, enhancing FX experiences globally, irrespective of asset location or trade execution point.