BNY Mellon (NYSE:BK), the global financial services company, is collaborating with Accenture (NYSE:ACN), a leading professional services company, to modernize financial services offerings with an initial focus on data management and analytics product development and delivery.
The companies will use leading technologies to unleash the power of data at new speed to help their joint clients drive accelerated growth.
Combining Accenture’s data, AI, and platform engineering expertise with BNY Mellon’s comprehensive financial data and analytics services will help accelerate the introduction of new services across private markets and wealth management technology, as well as support expansion into new markets. With the expertise and platforms to help clients achieve their goals, BNY Mellon will also work with Accenture to create exceptional client experiences. The two companies plan to further collaborate on bringing the newly developed services to market in the future to transform the financial services industry.
“Transforming how organizations better manage and leverage increasing volumes of data is a priority for BNY Mellon,” said Akash Shah, Chief Growth Officer, BNY Mellon. “By harnessing the latest technology and our shared expertise with Accenture we can support clients in transforming their operating models to utilize the power of their data to drive efficiency and growth. In our 240th year of business, we are proud that our experience helps provide innovative solutions and capabilities for our clients.”
BNY Mellon’s Data & Analytics business is a long-established provider of pre-eminent software, data management and an analytics platform for capital markets with $47T data assets on the platform and more than 800 clients.
“BNY Mellon has a bold vision—to reinvent how it serves its clients with data and analytics so that they can reach new levels of agility, performance and returns,” said Jack Azagury, group chief executive for Strategy & Consulting at Accenture. “We are proud to advance our commitment to helping BNY Mellon use next-level technologies to set a new bar for the industry and drive more value creation for its business and its customers, and we are excited about our joint opportunity to bring new capabilities and products to clients in the market.”
The collaboration of Accenture and BNY Mellon is the latest announcement by BNY Mellon as part of its technology and ecosystem strategy focused on building new solutions to help its clients grow their businesses. BNY Mellon’s Data & Analytics business recently announced a strategic alliance with Microsoft, focused on transforming the capital markets through leading data management solutions for its buy-side and sell-side clients.