The custody-styled side of BlackRock’s portfolio management solution Aladdin – called Aladdin Provider – is rapidly establishing itself as industry-standard infrastructure for custodians’ emerging front-to-back business-flow integration. A Global Custodian article tells the story.
A recent announcement by BNP Paribas, that it will use BlackRock’s Aladdin Provider system as the basis for middle-office outsourcing offers, is the latest of public signs that the platform “is quickly becoming the core infrastructure for custodians’ front-to-back servicing models”, industry news outlet Global Custodian observes, in an article which also tells the background. Previous custodian partners on the platform include JP Morgan and BNY Mellon.
“Many of these agreements are aimed at overcoming inefficiencies in the exchange and analysis of important front and back-office data for asset managers,” Global Custodian writes.
“Several years ago, we saw an opportunity to modernise the way clients interact with asset servicers. We came up with Aladdin Provider as a way to transform the investment operating model by bringing asset managers and custodians closer together to have a tighter integrated workflow,” Sudhir Nair, global head of Aladdin at BlackRock Solutions has told Global Custodian.
Originally coming from the portfolio management end, the Aladdin platform is currently “managing over $18 trillion of assets, mostly through licenses to institutional investors”, all according to the article.
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