06.04.26

BNY Takes Aim at Competitors With AI-Powered Wealth Push

by: Tracey Longo

BNY is investing heavily in AI, digital assets and advisor technology to compete more directly with custody leaders. At its INSITE 2026 conference, CEO Robin Vince said the firm aims to become a comprehensive wealth management platform. BNY Pershing currently oversees about $3.3 trillion in client assets and is backing its growth strategy with roughly $4 billion in annual technology spending. The firm’s proprietary AI platform, Eliza, is being used to automate workflows such as account opening, transfers and compliance processes, helping advisors operate more efficiently. Executives emphasized that AI is intended to enhance advisors rather than replace them.

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