BNY Mellon and BlackRock’s Solutions business have partnered to deliver integrated data, technology, and asset management servicing capabilities to common clients.
The partnership will integrate BNY Mellon’s data insights, accounting, and servicing tools into Aladdin, BlackRock’s investment and operating platform for investment managers.
According to BlackRock, it builds on an effort by BlackRock Solutions and BNY Mellon to transform the investment manager operating model.
The partnership will enhance real-time insights and transparency, exception-based monitoring, and drill-down capabilities into core accounting and custody oversight functions.
The collaboration will also provide closer data integration and shared workflows in Aladdin, improving operational efficiency and processing rates.
Hani Kablawi, CEO of global asset servicing at BNY Mellon, said: “We are excited to expand our partnership with BlackRock and help our clients drive significantly greater performance by integrating workflows, providing data and insights, and enhancing the client experience.”
He added: “For clients who choose both firms, we can provide immediate value across their investment lifecycle and this a meaningful example of our commitment to work with third parties to more closely integrate the front-to-back operating model.”
Rob Goldstein, BlackRock’s COO and head of BlackRock Solutions, commented: “The combination of Aladdin’s capabilities with BNY Mellon’s data and tools will further enable our common clients to access their investment management and servicing capabilities on one platform.”
He added: “Both firms have already demonstrated the value of enhanced technology and servicing integration over the years.”
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