BNY Mellon’s Pershing Launches Its Integrated Wealth Experience

June 14, 2017

The investment will focus on experience-centric design and integration benefits

 SAN DIEGO, CA, June 14, 2017—BNY Mellon’s Pershing (Pershing), today announced the launch of a suite of technology enhancements aimed at helping firms transform the digital experiences for their business. These new solutions aim to foster dynamic relationships and streamline experiences between advisors and investors. The solutions will be built on top of BNY Mellon‘s NEXEN digital investment platform, with a focus on experience-centric designs.  This marks the start of an effort to incorporate the full breadth of the BNY Mellon offering, and provide a truly differentiated advisor and investor experience in the industry.

“The Integrated Wealth Experience will allow firms to efficiently manage their brokerage and advisory businesses regardless of how they consume our technology,” said Ram Nagappan, chief information officer at Pershing. “The enhancements will help firms deliver unique digital wealth experiences by making integration easier, making data more accessible and by enhancing collaboration between financial professionals and investors.”

Delivering an Open-Consumption Model to Support Client Preferences

Pershing is making it easier for firms to co-create their user experience by offering easier access to its components and data; whether it’s fully leveraging Pershing’s solutions, integrating its solutions with other third-party systems, or using their own proprietary front-end technology.

Clients will have the flexibility to choose select components of technology based on their preferences and consume them into their own user experiences.

“Componentization takes integration beyond single sign-on and framing and empowers our clients to customize experiences at the feature-function level, providing them with granular control of the user experience,” added Nagappan.

Throughout 2017, Pershing will expand the NetXServices API Store to offer firms access to an even greater number of BNY Mellon enterprise and third-party APIs, to further customize their user experience.  Future plans include access to an App Store to offer firms a self-service experience to access components.

Delivering Solutions That Are Connected, Smart and Simple

The launch of Pershing’s new front-end portal, called NetX360-Wealth, will focus on delivering enhanced user experiences and optimized integration based on individual user needs and preferences.

Whether through the NetX360-Wealth portal, or through an advisor’s own front-end portal, the experience will provide the following:

  • Bringing together brokerage custody, bank custody and advisory experiences
  • Deeper integration with wealth reporting, data aggregation and managed investments solutions 
  • Further integration with third-party providers’ client relationship management, financial planning and portfolio management tools
  • Data aggregation and behavioral analytics to help advisors better profile and segment clients based on their unique needs to tap into business insights and opportunities

Leveraging Big Data and Behavioral Analytics for Practice Management Insights
Pershing is developing enhanced views into the health of financial professional’s practice and client relationships by leveraging behavioral and predictive analytics. In collaboration with IBM Watson Client Insights for Wealth Management, the firm is developing several use cases that look at client life-events, attrition prediction, money-in-motion and more. This will provide financial professionals with greater transparency into trends related to client behavior and goal planning needs. These capabilities will be deeply integrated into NetX360-Wealth and will leverage big data repositories to present impactful analytical dashboards.

Innovating with Chatbots and Digital Assistants to Augment a Firm’s Capabilities
Imagine if advisors could have digital assistants to help them process administrative tasks, profile prospects or segment clients. Pershing is developing use cases using chatbots to focus on digital advice, emotion detection, and helping clients to assess their digital maturity.

About BNY Mellon's Pershing

BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of 23 offices worldwide, Pershing provides business-to-business solutions to clients representing more than 6 million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Additional information is available on pershing.com, or follow us on Twitter @Pershing.

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 management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 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.