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Stimulus funds management solution by Microsoft and BNY Mellon

Microsoft and BNY Mellon collaborated to put together a new solution designed to streamline the management process associated with US stimulus funds as per the requirements of the American Recovery & Reinvestment Act of 2009 (ARRA). The institutions’ll be able to leverage both BNY Mellon Corporate Trust, and Microsoft Stimulus360. The two companies have bundled together project fund administration capabilities with features set up to simplify tasks such as planning, tracking and reporting of project funds. “This alliance is a compelling combination of BNY Mellon’s innovative public finance solutions with Microsoft’s familiar, easy-to-use and widely supported software. Ultimately, state and local governments benefit from a seamless solution from two industry leaders that provides critical transparency around a key economic recovery activity of President Obama’s Administration,” said Colleen Healy, general manager, U.S. Financial Services Group, Microsoft Corp.

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