Wall Street Behemoths BNY Mellon & Accenture Join Forces to Revolutionize Financial Services Through Data Innovation

Author: Nabaparna Bhattacharya | April 12, 2024 11:40am

Banking behemoth The Bank Of New York Mellon Corporation (NYSE:BK) on Friday said it is collaborating with tech giant Accenture Plc (NYSE:ACN) to modernize financial services offerings with an initial focus on data management and analytics product development and delivery.

The companies will leverage cutting-edge technologies to unlock the potential of data at unprecedented speeds, aiding their shared clients in driving rapid growth.

By blending Accenture’s proficiency in data, AI, and platform engineering with BNY Mellon’s extensive financial data and analytics services, the collaboration will expedite the rollout of innovative offerings in private markets and wealth management tech. 

According to Benzinga Pro, ACN stock has gained 12% in the past year. Investors can gain exposure to the stock via IShares U.S. Tech Independence Focused ETF (BATS:IETC) and Natixis Vaughan Nelson Select ETF (NYSE:VNSE).

BNY Mellon and Accenture aim to craft outstanding client experiences by leveraging their capabilities and platforms.

“By harnessing the latest technology and our shared expertise with Accenture we can support clients in transforming their operating models to utilize the power of their data to drive efficiency and growth,” said Akash Shah, Chief Growth Officer, BNY Mellon.  

According to Benzinga Pro, BK stock has gained over 20% in the past year. Investors can gain exposure to the stock via Davis Fundamental ETF Trust, Davis Select Financial ETF (BATS:DFNL), and Invesco KBW Bank ETF (NASDAQ:KBWB).

Price Action: ACN shares are trading lower by 2.6% to $316.71 on the last check Friday, while BK shares are trading lower by 0.65% to $55.01.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

Posted In: ACN BK DFNL IETC KBWB VNSE