Being a leader in both Investment Services and Investment Management gives us a broad perspective on the issues impacting the financial services industry. We also hold leadership positions in many industry associations and consortiums, and frequently host and participate in events to exchange ideas with our clients and a variety of organizations including start-ups, technology companies and universities worldwide.
Engaging our clients in thoughtful dialogue is one of the best catalysts for innovation. Tapping into these deep relationships is vital when trying to better understand current business challenges. And doing so allows us to do what we do best: develop innovative solutions. It’s no surprise that many of our greatest innovations have been the result of client collaboration.
We have a long history of industry collaboration. We were a founding member of the Society of Worldwide Interbank Financial Telecommunication (SWIFT), and continue leading the way with the Depository Trust and Clearing Corporation (DTCC) and the Securities Industry & Financial Markets Association (SIFMA). Today, we work with leading industry players on topics of broad importance like client reference data, trade execution and regulatory solutions.
The start-up community helps bring fresh perspectives and questions the status quo in a way that is extremely valuable to our ongoing innovation efforts. Engagement through forums such as FinTech is part of our innovation outreach. Where the area of focus is of strategic interest to our organization and our clients we’ve made early stage investments in firms.
From an innovation perspective, we engage with universities globally, including Cambridge University, Cass Business School, Carnegie Mellon, University of Pittsburgh and others. The interaction with faculty and staff provides diverse perspectives, allowing us to forge valued relationships that contribute to our innovation process.
BNY Mellon completed its acquisition HedgeMark, in 2015. HedgeMark specializes in supporting institutional investors in the development and operations of their own private hedge fund dedicated managed account platforms (“DMAs”). This investment allowed us to provide an innovative and early solution to our clients.