BNY Mellon Asset Servicing, Bank of New York Mellon Corp.'s securities servicing arm, has developed an online outsourcing service that it says allows investment managers and advisers to send clients customized information on portfolio holdings, billing, and transactions.
The new service allows managers "avoid expensive capital spending on technology and benefit from the savings derived from utilizing BNY Mellon's large, highly scalable back-office capabilities," accordin to the company.
It introduced the service on Thursday.
BNY Mellon Asset Servicing's other offerings include custody and fund services, securities lending, performance and analytics, and execution services.
Bank of New York Mellon had more than $23 trillion of assets under custody and more than $1.1 trillion under management as of Dec. 31.
