BlackRock’s Aladdin Sees Promise in Snowflake’s Data Cloud
Posted on 02/23/2021
BlackRock Inc. is the world’s largest asset management firm. Snowflake Inc. (ticker: SNOW) wants to sell its cloud services to the investment management industry. Snowflake inked a partnership to combine BlackRock’s Aladdin investment technology with Snowflake’s Data Cloud. Under the partnership, Blackrock will introduce Aladdin Data Cloud, an investment platform that will be powered by Snowflake. The partnership will bring Aladdin and non-Aladdin data together and enable developers to utilize it through Aladdin Studio. BlackRock gets to be a founding partner for Snowflake’s “Powered by Snowflake” program. Each Aladdin Data Cloud customer will receive an independent centrally-managed data store preloaded with Aladdin data sets that can be supplemented by proprietary and third-party data sources.
BlackRock partners with Snowflake to create data cloud
Bloomberg
BlackRock is partnering with Snowflake, a cloud-based data platform provider, to deliver a next-generation solution for the investment management industry, a joint news release said Monday.
Aladdin Cloud will enable money managers to combine Aladdin and non-Aladdin data on a single cloud-based platform increasing operational efficiency, the companies said in the release.
BlackRock will add the Aladdin Data Cloud to its Aladdin investment and operations platform and it also will be a strategic part of Snowflake s own data cloud, the release said.
Money manager users of Aladdin cloud data will receive an independent, centrally managed data store that includes Aladdin data sets. Managers data platforms can be expanded with the addition of third-party data sources and their own proprietary data allowing organizations to access and query their business-critical data on single cloud-based platform, the release s