BNY Mellon’s Pershing has integrated with two alternative investment platform sponsors, CAIS and iCapital Network, through its application programming interface store.
The integration will expand Pershing’s alternative investment offering and leverage technology to automate document workflows and improve the efficiency of processes.
Both CAIS and iCapital Network offer advisors access to alternative investments such as private equity, private credit and hedge funds through diligence products and operational workflows on an end-to-end technology platform.
Following the integration, advisors will only require pre-populate documents on the alternative investment platform where the product is offered, which will be automatically uploaded to the Pershing platform to reduce the risk of human error.
Rob Cirrotti, managing director of global strategy and product management at BNY Mellon’s Pershing, explained: “As advisors increasingly turn to alternative investments for diversification and uncorrelated returns, we are committed to streamlining the process by making it more digital and more seamless for them so they can drive greater efficiencies.”
Christina Townsend, head of relationship management, consulting and platform strategy for advisor solutions at BNY Mellon’s Pershing, added: “Our intelligently open platform offers advisors a highly curated experience, providing them with seamless connectivity to the most sought-after solutions in the marketplace.”