Snowflake's technology will underpin the Aladdin Data Cloud, which will be a new option for Aladdin customers later this year and replace the current Aladdin Data Warehouse. The partnership will allow Aladdin users to "combine the multitude of datasets that many organizations struggle to get their arms around today, and at the end of the day, just build, innovate and create analytics reporting in a way that's just much more streamlined than what they've been used to with traditional sort of data warehousing or data management capabilities," Nair said.
#Blackrock aladin professional
Modern professional investors have a voracious appetite for data that can inform their decisions, and need a sophisticated service that can quickly gather, sort and process reams of investment data, said Sudhir Nair, managing director and global head of Aladdin, BlackRock's technology arm. Some of Wall Street's biggest financial services companies use BlackRock's Aladdin cloud service to manage their portfolios and analyze risk. Those in the latter category will soon be able to use a new data management cloud service built in partnership with Snowflake, the first such collaboration deal struck by the data warehousing darling.
There are meme stonk traders, and then there are BlackRock customers.