BNY Mellon has led a $14 million investment round for bondIT, a company specializing in credit analytics and fixed income technology.
BondIT aims to digitize fixed investment by leveraging machine learning and Explainable-AI within a platform that automates and optimizes portfolio construction, management, and research. The technology enables fixed income investors to rapidly create credit and yield-optimized portfolios using data-driven analytics, promising enhancements in performance, efficiency, and scalability.
This investment from BNY Mellon follows bondIT’s participation in the Wall Street giant’s accelerator program last year. Additionally, BNY Mellon will join the bondIT board.
John Goodheart, MD at BNY Mellon, stated: “Collaborating with bondIT will allow us to deliver innovative digital solutions for fixed income investors, enabling investment professionals to explore new options more easily through AI, thereby expanding their portfolio optimization capabilities for clients.”