Waters Rankings 2021: Best accounting system provider—BNY Mellon Data and Analytics Solutions

Product: Eagle Investment Accounting

Dan Cavanaugh, BNY Mellon
Dan Cavanaugh, BNY Mellon

BNY Mellon’s Eagle Investment Accounting solution has a long history of helping clients meet market challenges and capture new opportunities. Its real-time consolidated investment view of assets, exposures, and risks provides the information needed to help clients uncover critical insights. Our recent technology investments have enhanced system efficiency, scale, and resiliency, allowing clients ability to easily support new instruments and products to power their growth. With access to rich, validated data for reporting to customers and the ability to respond to new requirements and security types, clients can leverage Eagle Investment Accounting to transform their operating model and harness the power of data.” Dan Cavanaugh, head of Eagle products and services, BNY Mellon

WHY THEY WON

While SS&C Advent/Advent Software has won this category the last six years, voters were likely swayed by BNY’s continued investment in cloud technology and its acquisition of Milestone Group, which will help the bank to improve its already impressive scale. 

WHAT’S NEW

The company has looked to expand its offering around operational controls, regulatory requirements, improved asset coverage, an enhanced account features. It has also worked to improve workflows and packaged solutions to help drive down costs.

The main focal points for investment have been Data Vault, its cloud-based data and analytics platform; ESG Data Analytics, which uses artificial intelligence to customize investment portfolios to individual ESG preferences; and Tax Analyzer, which is delivered through managed services and provides tax reporting solutions, including wash sales.  

WHAT’S TO COME 

The BNY Mellon Data & Analytics Solutions team is looking to broaden the scope of its digital ecosystem both by advancing its own solutions and also seeking opportunities to collaborate with external to provide users with greater choice and flexibility.   

The company has announced plans to acquire institutional investment solutions provider Milestone Group, which will help users provide improved accounting transparency and resiliency by advancing the group’s digitization and automation efforts. It will expand its offerings and core capabilities by adding OCIO services, cash allocation, and fair value control solutions.  

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