State Street Launches Cloud-Native Alpha Data Platform for Institutional and Wealth Managers
December 15 2020 - 9:00AM
Business Wire
Partnership with Snowflake Enables Enhanced Data Management via
Cloud-Native Platform on State Street AlphaSM
State Street Corporation (NYSE:STT) today launched its State
Street AlphaSM Data Platform, an end-to-end data management and
warehouse solution for institutional investment and wealth
managers. The platform enables clients to seamlessly assemble and
access investment data spanning internal and third-party services
across their investment processes. It provides access to front
office data in near real-time, and incorporates data catalog and
visualization capabilities that result in higher quality data,
while reducing cost and accelerating decision making.
“Data is at the heart of Alpha, our front-to-back platform, and
we are committed to providing the leading data platform within the
investment management industry. Institutional investors and wealth
managers today are challenged by the depth and breadth of data
available to them. They need new, innovative tools to manage and
interpret this data at scale,” said John Plansky, global head of
State Street Alpha.
State Street Alpha leverages the product and engineering
capabilities of Charles River Development and State Street
supported by global service delivery teams ensuring cross- region
business resiliency.
“Through partnering with industry innovators such as Snowflake®
and Microsoft® Azure, our platform provides investment managers
with access to our trusted data from across Alpha as well as broad
spectrum of data in the Snowflake® Data Marketplace,” said Spiros
Giannaros, chief executive officer of Charles River Development.
“This combination allows clients to uncover unique data insights
and opens up a whole new way to accelerate speed to market that
previously didn’t exist.”
The Alpha Data Platform connects to data from multiple sources,
including Snowflake® Data Marketplace, to deliver timely insights
while simplifying the user experience for both assembling and
consuming this information. “State Street’s vast asset management
data combined with Snowflake’s Data Cloud comprise a powerful
combination of capabilities to streamline the entire investment
process and mobilize data in the service of the enterprise,”
Snowflake CEO, Frank Slootman said.
The Alpha Data Platform’s open architecture system, enabled by
Snowflake and operated by expert data stewards, allows clients to
leverage any number of critical capabilities or services within the
platform, together with their own systems and preferred partners.
The interoperable Alpha Data Platform will also serve as the
foundation for the next stage of development for Alpha’s new
solutions for cash and position management and performance
measurement.
For more information on State Street Alpha, visit
https://www.statestreet.com/platform-for-growth.html
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $36.6 trillion in assets
under custody and/or administration and $3.1 trillion* in assets
under management as of September 30, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of September 30, 2020 includes
approximately $81 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2020 State Street Corporation - All Rights Reserved
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Zarna Patel zpatel@statestreet.com +1 617 756 2911
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