Financial services company Bank of New York Mellon (BNY) has launched a comprehensive data, software, and services solution, dubbed Alts Bridge.
The new offering is designed to address the rising demand from wealth intermediaries for access to alternative and private market investment products. This new platform aims to provide a simplified end-to-end investment experience.
Alts Bridge is crafted to seamlessly integrate with intermediaries’ existing desktops, starting with BNY Pershing X’s Wove advisory platform and NetX360+.
Featuring advanced artificial intelligence (AI) and analytics tools, the platform is expected to minimise manual processing and error rates, offering an advanced solution for investors, advisors, and home offices.
It will also provide access to a curated suite of alternative and private market asset managers globally, including 26 North, Blue Owl Capital, Carlyle, Alternatives by Franklin Templeton, Apollo, Aviva Investors, CIFC, Crescent Capital, Eisler Capital, Generali, Goldman Sachs, KKR, RCP Advisors, Invesco and others.
Alts Bridge will have capabilities across the pre-, at-, and post-trade processes.
This will include an adviser education and fund discovery centre, home office and asset manager tools, product overviews, automated document preparation, simplified order entry, and integrated reporting and investment management capabilities.
BNY Alts Bridge head David Moss said: “We consistently hear from advisors that they want to allocate more to alternatives and private markets but are limited by operational complexity and significant additional resource requirements.
“We’re incredibly proud to deliver the alternative investment experience that advisors and their clients expect and deserve.
“We’re addressing challenges that have persisted for decades and delivering cutting-edge tools. For advisors, we are making alternatives easier. And for asset managers, Alts Bridge delivers scalable, efficient access to the growing wealth channel.”
Alts Bridge is expected to be available to US registered investment advisors (RIAs) and independent broker-dealers (IBDs) in fall 2024, with initial access granted to clients of BNY Pershing.
