How BNY Mellon Became a Pioneer in Bots

Time saver: Reconciling failed trades used to take five to ten minutes. Using bots, it now takes a quarter of a second, says Doug Shulman, global head of client service delivery at BNY Mellon. Custody banks are generally not the first to adopt new technologies — as highly regulated entities with oversight of large amounts of money, they take few risks with the systems they use to safeguard money for institutional clients. But this year Bank of New York Mellon became one of the first U.S. banks to use robotic process automation — not just in pilots but in everyday operations. “A bunch of our folks knew about robotics, we heard about it, [and] we said let’s give it a try,” said Doug Shulman, senior executive vice president and global…


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