Asia Awards 2021: Best Enterprise Data Management Provider—BNY Mellon Data and Analytics Solutions

BNY Mellon Data and Analytics Solutions wins the best enterprise data management provider category in this year’s WatersTechnology Asia Awards, thanks to its integrated data platform consisting of two modules: Eagle Data Management and Data Vault, a foundation for further analytical tools like Data Studio. As a cloud-based platform, Data Vault allows clients to acquire, blend, aggregate and control their data estates in order to navigate the complexities of today’s global marketplace and ever-growing regulatory requirements.

Data Vault and Data Studio build on BNY Mellon’s data management strategy through its Eagle Data Management solution, and reimagine how financial services firms manage data and analytics, as well as generate new insights to guide investment decisions. “We believe our solutions are pioneering the data- and client-centric approach that asset managers and asset owners are increasingly seeking,” explains Fangfang Chen, Asia-Pacific chair and head of asset servicing and digital at
BNY Mellon.

According to Chen, many firms across Asia are still operating on legacy platforms that lack data governance, integration and flexible reporting capabilities. “There’s a growing need for systems to be able to consume unstructured data and aggregate from multiple sources, service providers and external fund managers to derive actionable analytics and insights that can support investment decisions,” she says.

Data Vault, introduced in 2020 along with Distribution Analytics and ESG Data Analytics, is an open, flexible platform built on Microsoft Azure. It combines advanced machine learning functionality with business rules to offer a data governance solution that leverages tools that support big data concepts. It extends the capabilities of the Eagle Data Management solution and facilitates onboarding of content by eliminating schema conformance and the need to engage engineering resources.

According to the firm, Data Studio, launched this year, offers a flexible and frictionless data exploration experience, allowing business users to perform advanced analytics on the data they pull into Data Vault. “Our suite of solutions offers computational speed and agility,” says Chen. “Clients can look at millions of data points and summarize and visualize it quickly and share [it] across their organization for better, well-informed decisions.”

In terms of its future plans, BNY Mellon is continuing to prioritize investment in its data business. “We are incorporating a wide spectrum of capabilities into a unique, scalable ecosystem with flexible features to meet our clients’ needs and enhance their ESG capabilities,” Chen says. “As part of this, we have augmented our team with talent from Microsoft, Amazon, Google, Bloomberg, S&P, and competitors in the fintech and financial services space.”