Microsoft has today announced a collaboration with investment management giant BlackRock. The two companies will integrate services during an ongoing strategic partnership. Specifically, Microsoft's Azure will provide the cloud framework for BlackRock's Aladdin platform.
BlackRock is a leader in the investment management market. The company is the world's largest asset management firm and oversees over $7.4 trillion in assets. Aladdin is BlackRock's end-to-end investment management and operations platform. It allows customers in various sectors to access services.
Under the terms of the partnership with Microsoft, Azure will allow Aladdin to arrive on the cloud. Together, the companies will aim to bring new scale and innovation to customers.
“As both a user and a provider of Aladdin, this decision reflects BlackRock's ongoing commitment to continuous innovation and scalable operating solutions,” said Rob Goldstein, Chief Operating Officer of BlackRock. “Aladdin infrastructure deployed on Microsoft Azure's cloud platform will provide BlackRock with enhanced capabilities to deliver the best outcomes for our Aladdin clients.”
By moving to the cloud with Azure, Aladdin will provide customers with an easier way to scale and support their infrastructure. Microsoft and BlackRock say they will also work to develop other projects on the cloud.
“By bringing Aladdin to the cloud, Microsoft will support BlackRock in further enhancing its client experience while also enabling continuous innovation in the financial services industry,” said Judson Althoff, executive vice president of Microsoft's Worldwide Commercial Business. “Together, we will empower an ecosystem of financial services customers running their most critical workloads in the cloud.”
Under the collaboration, the two companies plan to focus on sustainable data and analytics. The first project is the development of challenge grants for organizations that leverage data.