BNY Mellon Wins Regional 2020 Gartner Eye on Innovation Award
DECEMBER 2, 2020
BNY Mellon was named the Regional Winner of the Gartner Eye on Innovation Award for financial services in the Americas. The award recognizes innovative use of digital technology-enabled capabilities, products or services to highlight “best-in-class” financial industry initiatives launched within the past 12 months and to offer insight about developments in digital innovation. BNY Mellon was selected by industry peers for its artificial intelligence (AI) solution for liquidity forecasting.
“The ability to accurately predict future cash and liquidity — particularly during periods of heightened volatility — is extremely important for banks and their clients,” said Mike Demissie, Head of Advanced Solutions at BNY Mellon. “I am proud of our Advanced Solutions and Corporate Treasury teams’ work to create an innovative solution that could help us better manage liquidity and lower risk.”
The proposed solution leverages machine learning and predictive analytics models that are trained on historical intraday data comprised of millions of transaction records — learning the liquidity flow patterns at hourly levels. When fully implemented, it could enable the treasury team to make timely decisions about sourcing or deploying liquidity according to the anticipated end-of-day balance, potentially freeing up significant liquidity from daily reserves.
Learn more about Advanced Solutions and how BNY Mellon is expanding the use of artificial intelligence and machine learning to drive automation, reduce risk and deliver actionable insights.
The identification of a Gartner award winner or finalist is not an endorsement by Gartner of any company, vendor, product or service.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Sept. 30, 2020, BNY Mellon had $38.6 trillion in assets under custody and/or administration, and $2.0 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
