NEXEN (platform)

NEXEN
Developer(s)	BNY Mellon
Initial release	22 June 2015; 8 years ago (2015-06-22)
Type	Financial services
License	Proprietary commercial software
Website	nexen.bnymellon.com

NEXEN is a financial services platform developed by BNY Mellon. It features a web application, APIs, and data analytics tools to allow financial services clients to access the BNY Mellon's services, such as asset custody, broker-dealer services, and alternative investment services. NEXEN was launched in 2015, and is part of BNY Mellon's digital transformation efforts that began in 2012.^[1]

Features

Technology

NEXEN is advertised as being based on open-source software components: as of 2016, it run on OpenStack and relied on components and tools including Jenkins, WSO2, Docker, Spring, Eclipse, Puppet, Drill, H2O, Java, Angular, Python, Node.js, Go, Groovy, Hadoop (Storm, Kafka, opentsdb), Solar, MCollective, Apache Camel, Apache Activiti, OpenLDAP, Maven, Apache HTTP, Apache Tomcat, Liferay, JUnit, Spock, Mockito, H2, CXF, SLF4J/Log4J, Jackson, XStream, Graphna, Druid, Presto.^[2]

Gateway and App Store

NEXEN includes Gateway, a web application for users to access BNY Mellon services via browser on desktop, tablet, and mobile device.^[3]^[4] Gateway is built using open-source technology, such as AngularJS. It provides users access to BNY Mellon services across multiple financial services segments in a single interface. As of June 2016, there are 10,000 entitled users to Gateway.^[5]

BNY Mellon plans to include third parties on the NEXEN platform via an app store.^[6]^[7] An example is a third-party app that performs sentiment analysis on asset managers' portfolio holdings.

APIs

NEXEN is built using API technology.^[4] APIs are used to provide data and functionality to the user interface. Clients can also access more than 100 APIs directly using the NEXEN API Store.^[5]^[6] The NEXEN platform uses open-source technology to run the APIs, such as WSO2.^[8]^[9]

Data analytics

NEXEN includes data analytics tools through a feature called Digital Pulse.^[6] This feature includes capturing more than one billion data events per month and using visual tools to display and analyze the data.^[6] Activities, processes and transactions are all tracked via the same analytics feature, resulting in nearly 200 dashboards.^[5]^[10]

References

^ Ross, Jeanne; Sebastian, Ina; Beath, Cynthia (3 April 2017). "BNY Mellon: Redesigning IT for Digital Transformation" (CISR Working Paper No. 416). MIT Sloan Center for Information Systems Research: 2. Retrieved 14 May 2017. {{cite journal}}: Cite journal requires |journal= (help)
^ Strukhoff, Roger (2016-06-06). "BNY Mellon's NEXEN Transforms Banking with Cloud Foundry". Retrieved 2023-05-17.
^ Boulton, Clint (2 April 2017). "BNY Mellon Channels Silicon Valley Development Practices". The Wall Street Journal. Retrieved 26 March 2017.
^ ^a ^b Fogarty, Susan (21 October 2016). "Banking On Open Platforms And APIs". NetworkComputing. UBM. Retrieved 26 March 2017.
^ ^a ^b ^c Bedell, Denise (10 June 2016). "Innovators Q+A BNYMellon On Its Open-Source Platform". Global Finance Magazine. Retrieved 13 May 2017.
^ ^a ^b ^c ^d Baliva, Zach (15 June 2016). "Jennifer Cole is Helping Finance Giant BNY Mellon Become a Tech Giant Too". Sync. Guerrero Howe. Retrieved 13 May 2017.
^ Norton, Steve (7 April 2016). "BNY Mellon Plans to Offer Asset Managers New Sentiment Analysis Tool". The Wall Street Journal. Retrieved 13 May 2017.
^ Babcock, Charles (26 October 2015). "BNY Mellon Transforms IT One Step At A Time". InformationWeek. Retrieved 13 May 2017.
^ Eder, Daniela (5 May 2017). "How PSD2 is changing the face of payments". bobsguide. Contentive Group Ltd. Retrieved 14 May 2017.
^ Macknight, Joy (4 January 2016). "BNY Mellon masters the art of digital". The Banker. Financial Times. Retrieved 13 May 2017.