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- Bank of New York Mellon (NYSE:BK) is using Microsoft’s (NASDAQ:MSFT) Azure cloud to provide its buy-side and sell-side clients with an advanced data management platform, the companies said on Monday.
- The global alliance will enable financial institutions to precisely navigate complex market dynamics as they improve risk management and operational efficiency, they said.
- The expanded collaboration will also entail exploring artificial intelligence technologies for improved productivity and better decision-making. In addition, BNY Mellon will migrate its data and analytics workloads to Microsoft Azure.
- “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,” said Akash Shah, chief growth officer at BNY Mellon (BK).
- BK stock slipped 0.3% and MSFT edged down 0.1% in Monday premarket trading.
