The professional services firm Accenture and the multinational financial services business BNY Mellon are working together to revamp financial services products, with a primary focus on data management and analytics product creation and delivery.

The companies will leverage modern technology to unlock the potential of data at new speeds, assisting their combined clients in driving faster growth.

Combining BNY Mellon’s broad financial data and analytics services with Accenture’s data, AI, and platform engineering capabilities will accelerate the development of new wealth management technology options and enable market growth.

BNY Mellon will collaborate with Accenture to develop unique client experiences, utilising its knowledge and platforms to assist customers to accomplish their goals.

Moreover, the two companies intend to continue working together to bring the newly created services to market in order to alter the financial services industry.

Akash Shah, chief growth officer, BNY Mellon stated: “Transforming how organisations better manage and leverage increasing volumes of data is a priority for BNY Mellon. By harnessing the latest technology and our shared expertise with Accenture we can support clients in transforming their operating models to utilise 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.”

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With over 800 clients and $47trn in data assets on the platform, BNY Mellon’s Data & Analytics division has a long history of providing superior software, data management, and an analytics platform for the capital markets.

Jack Azagury, group chief executive for strategy & consulting at Accenture added: “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. 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.”

Accenture’s partnership with BNY Mellon is a component of its ecosystem and technology strategy, which is centered on developing innovative solutions to support its clients’ business expansion.

The Data & Analytics division of BNY Mellon recently formed a strategic partnership with Microsoft with the aim of revolutionising the capital markets by providing competitive data management solutions to its buy-side and sell-side clientele.