CIBC Mellon has partnered with AI-powered data automation outfit, Duco, in a bid to lower operational risk, streamline processes, and empower finance and operations teams.
Mal Cullen, chief executive of, CIBC Mellon, said: “By harnessing AI-based automation, CIBC Mellon ensures that its processes are exception-based and sustainable in the long run.”
The asset servicing industry has been defined by data initiatives, partnerships and mandates in 2024. Partnerships have been struck between the likes of BNY Mellon and Microsoft, Northern Trust and Finbourne, and Clearstream and Intex.
Richard Anton, chief client officer, at CIBC Mellon, said the addition of Duco’s data automation technology signifies a significant step towards “enhancing the way [we] deal with data”.
He added: “By automating repetitive tasks and focusing on insight and analysis, we aim to empower our experts to deliver even greater value to our clients. This collaboration aims to revolutionise the way data is managed, processed, and utilised, ultimately delivering better outcomes for our clients.”