BlackRock to Launch the “Aladdin Data Cloud” Powered by Snowflake
February 22 2021 - 9:00AM
Business Wire
Snowflake Selects BlackRock as the Preferred
Partner for the Investment Management Industry
BlackRock (NYSE:BLK) and Snowflake (NYSE:SNOW) today announced a
strategic partnership to deliver a next-generation solution for the
investment management industry. BlackRock will launch Aladdin Data
Cloud, a solution for investment managers to expand the utility of
data, powered by Snowflake’s platform. The Aladdin Data Cloud will
be a strategic part of Snowflake’s Data Cloud and a part of the
Aladdin platform. The solution allows companies to bring Aladdin
and non-Aladdin data together making it easy for users to build on
top of it with Aladdin Studio, BlackRock’s platform for
developers.
By bringing together Aladdin, a leader in investment management
technology, and Snowflake’s Data Cloud, the Aladdin Data Cloud
allows its clients to expand the utilization of data across their
organization unlocking creativity and increasing operational
efficiency. Each Aladdin Data Cloud client receives an independent,
centrally-managed data store pre-loaded with rich front-to-back
Aladdin data sets which can then be supplemented with proprietary
and other third-party data sources, allowing organizations to
access and query their business-critical data on a single,
cloud-based platform.
“Aladdin has been on a journey for three decades to put data at
the heart of the investment process. We’re excited to be working
with Snowflake’s innovative technology as we enter the next phase
of that journey,” said Rob Goldstein, COO of BlackRock. “Today,
each client is able to customize on top of Aladdin and with their
instance of Aladdin Studio and the Aladdin Data Cloud, they will
have more powerful tools than ever at their disposal.”
BlackRock is partnering with Snowflake for its unique ability to
meet the diverse requirements of Aladdin clients, and its shared
vision to eliminate data silos in the industry. BlackRock will be a
founding partner in Snowflake’s “Powered by Snowflake” program. The
two firms will collaborate to address the evolving needs of the
investment management community with the goal of making data more
accessible and actionable.
"We’re thrilled to be a strategic partner to BlackRock to power
a robust data platform for investment managers,” said Frank
Slootman, CEO of Snowflake. “With Aladdin as a strategic part of
Snowflake Data Cloud, our goal is to create a new industry standard
in financial services for accessing, governing and acting on data
in a unified and secure data environment.”
BlackRock’s Aladdin Data Cloud is an evolution of its existing
Aladdin Data Warehouse solution and is among a suite of new
capabilities that Aladdin expects to roll out in 2021 as part of
Aladdin Studio, the firm’s platform for developers to customize,
create and collaborate on top of their instance of Aladdin. Built
to run on all major cloud providers, the solution leverages
sophisticated cloud security and data governance capabilities.
About Aladdin Aladdin is BlackRock’s end-to-end
investment management and operations platform used by institutional
investors including asset managers, pension funds, insurers and
corporate treasurers. It combines sophisticated risk analytics with
comprehensive portfolio management, trading, operations and
accounting tools on a single, unified platform. Also customized for
wealth managers, Aladdin provides a common language across the
investment lifecycle and enables a culture of risk transparency
among users.
About BlackRock BlackRock’s purpose is to help more and
more people experience financial well-being. As a fiduciary to
investors and a leading provider of financial technology, we help
millions of people build savings that serve them throughout their
lives by making investing easier and more affordable. For
additional information on BlackRock, please visit
www.blackrock.com/corporate.
About Snowflake Snowflake delivers the Data Cloud — a
global network where thousands of organizations mobilize data with
near-unlimited scale, concurrency, and performance. Inside the Data
Cloud, organizations unite their siloed data, easily discover and
securely share governed data, and execute diverse analytic
workloads. Wherever data or users live, Snowflake delivers a single
and seamless experience across multiple public clouds. Snowflake’s
platform is the engine that powers and provides access to the Data
Cloud, creating a solution for data warehousing, data lakes, data
engineering, data science, data application development, and data
sharing. Join Snowflake customers, partners, and data providers
already taking their businesses to new frontiers in the Data Cloud.
Snowflake.com.
Forward-Looking Statements This press release contains
express and implied forward-looking statements, including
statements regarding the Aladdin Data Cloud, which is under
development, and the expected release timing, capabilities and
benefits of the Aladdin Data Cloud. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including those described under the heading “Risk
Factors” in the Quarterly Report on Form 10-Q Snowflake filed with
the Securities and Exchange Commission on December 3, 2020. In
light of these risks, uncertainties, and assumptions, the future
events discussed in this press release may not occur and actual
results could differ materially and adversely from those
anticipated or implied in the forward-looking statements. As a
result, you should not rely on any forwarding-looking statements as
predictions of future events. These forward-looking statements
speak only as of the date of this press release and Snowflake
undertakes no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20210222005526/en/
Media BlackRock Logan Koffler Logan.koffler@blackrock.com
(646) 231-1904
Snowflake Danica Stanczak Sr. PR Manager press@snowflake.com
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