The Bank of New York Mellon Corporation (BNY Mellon) and Bloomberg have formed a strategic alliance that further integrates BNY Mellon’s data, analytics, and servicing capabilities with AIM, Bloomberg’s portfolio management, trading and compliance solution.
The new connectivity streamlines data delivery between the two firms and enables clients to access BNY Mellon’s data and analytical workflow tools directly through Bloomberg AIM, delivering unique capabilities and insights to investors, technology leaders, and risk and operations professionals.
These integrated solutions, available today, will benefit clients across many core processes along the investment lifecycle. With automated connectivity and standardised data delivery between Bloomberg AIM and BNY Mellon, common clients will experience faster onboarding, higher straight-through processing rates and more efficient data exchanges. Clients will be able to leverage BNY Mellon’s industry-leading reporting and transaction applications together with AIM’s oversight functions, providing all the details and drill down capabilities to support settlement cycles and accurate tradable positions in one place.
The firms say the alliance will benefit a substantial number of mutual and prospective clients across the traditional asset management, hedge fund, and asset owner segments. In addition to these capabilities, the two firms say they are working together to drive additional simplicity, transparency, and insights into the investing and servicing lifecycle.
“We believe clients will continue to want choice and flexibility of their operating models, and we are committed to partnering with industry-leading providers like Bloomberg as a core element of our open platform strategy,” says Hani Kablawi, CEO of Global Asset Servicing at BNY Mellon. “As two of the industry’s leading investment technology and servicing providers, BNY Mellon and Bloomberg mutually serve many of the world’s foremost investment firms, and we see enormous opportunity to help our common clients transform their operating models and enable more informed and timely decision-making.”
“Partnering with leading technology and servicing providers like BNY Mellon allows us to streamline and enrich critical investment workflows to help our clients reduce operational complexity and scale their businesses,” says Ben Macdonald, Global Head of Enterprise Products at Bloomberg. “We are excited to enhance the interoperability of Bloomberg products through our collaboration with BNY Mellon, and are focused on expanding third-party relationships through our partner program to deliver additional value to our clients.”
