BlackRock and Snowflake have entered into a strategic partnership with the common intention of providing next-generation solutions to the investment management industry.
BlackRock announces Aladdin Data Cloud, a solution for investment managers to extend their data utilities using Snowflake’s platform.
Aladdin Data Cloud is a strategic part of Snowflake’s Data Cloud and will be part of the Aladdin platform.
This solution allows enterprises to use BlackRock’s developer platform, Aladdin Studio, to combine Aladdin and non-Aladdin data with the goal of simplifying the process of building on it.
By integrating Aladdin with Snowflake’s Data Cloud, Aladdin Data Cloud allows clients to increase data utilization across the organization, increasing creativity and operational efficiency, according to the statement.
Each Aladdin Data Cloud client receives a separate, centralized data store preloaded with front-to-back Aladdin datasets. This dataset can be complemented with your own data source or other third-party data sources.
This allows organizations to access and query business-critical data on a single cloud-based platform.
BlackRock has partnered with Snowflake for its ability to meet Aladdin’s client requirements and a common vision of eliminating industry data silos, the company said.
BlackRock will be the founding partner of the Snowflakes Powered by Snowflake program. The two companies will work together to meet the evolving needs of the investment management community with the goal of making data more accessible and practical.
Rob Goldstein, COO of BlackRock, said: “Aladdin has been on a 30-year journey to put data at the heart of the investment process. As we enter the next phase of that journey, we are excited to work with Snowflake’s innovative technology. I will.
“Today, each client can be customized on Aladdin, and instances of Aladdin Studio and Aladdin Data Cloud give you the freedom to use more powerful tools than ever before.”
Frank Sloutman, CEO of Snowflake, said: “We are excited to become BlackRock’s strategic partner to enhance our robust data platform for investment managers.
“By using Aladdin as a strategic part of Snowflake Data Cloud, our goal is to create a new industry standard for financial services to access, manage and manipulate data in a unified and secure data environment. . “
BlackRock’s Aladdin Data Cloud is an evolution of the existing Aladdin Data Warehouse solution, deployed by Aladdin in 2021 as part of Aladdin Studio, the company’s platform for developers to customize, create and collaborate. It’s one of a series of upcoming new features. Their instance of Aladdin.
This solution is built to run on all major cloud providers and leverages advanced cloud security and data governance capabilities.
BlackRock and Snowflake aim to form a partnership to serve the investment management market
Source link BlackRock and Snowflake aim to form a partnership to serve the investment management market