Railpen, the fiduciary and investment manager of the UK railways’ pension schemes, has appointed BNY Mellon to provide a cloud-based data platform that simplifies its data architecture and supports the resilience of its operating model.

The platform will deliver greater insights from Railpen’s proprietary data for the purpose of investment reporting and generating analytics, it was announced.

Railpen runs approximately £34bn (€39.7bn) in assets for the 350,000 members of the railways pension schemes, one of the UK’s largest and longest-established pension funds.

“As part of our strategy to optimise and scale our operating model, our collaboration with BNY Mellon is an important step in achieving our objective of delivering the best possible outcomes for our 350,000 members,” said John Robson, Railpen chief technology officer.

He added that BNY Mellon’s data operating platform will help enhance the resilience of Railpen’s investment and functional teams, ”providing a greater ability to analyse and incorporate new data feeds, and prepare us to benefit from innovations, now and in the future”.

As part of the contract, BNY Mellon will provide the railways pension schemes with additional services including custody, investment accounting and front-office support solutions for Railpen’s public and private assets, replacing a legacy solution.

Julie Gerdeman, global head of data and analytics at BNY Mellon, said: “Providing greater insights will help Railpen deliver on its commitment to its members across the investment lifecycle, as well as strengthen its risk management and governance practices.”

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