TLDR:
Northern Trust has partnered with Finbourne Technology to modernize its valuation and reporting capabilities. They will utilize Finbourne’s LUSID and Luminesce solutions to present key data in near real-time. By leveraging Finbourne’s SaaS tech, Northern Trust aims to have cost-effective and scalable data processing solutions for modernizing their technology strategy.
Summary:
Northern Trust, a Chicago-based wealth management firm, has teamed up with UK-based data solutions vendor Finbourne Technology to enhance its valuation and reporting processes. The partnership will see Northern Trust leveraging Finbourne’s LUSID and Luminesce solutions to present key data to clients in near real-time, aiding them in making informed investment decisions.
Finbourne’s LUSID solution, specifically designed to handle complex data volumes, will allow Northern Trust to access cost-effective and scalable data processing solutions through Finbourne’s cloud-native SaaS technology, enabling the firm to modernize its technology strategy. The selection of Finbourne was based on their domain expertise and modern approach to data model extension and interoperability, according to Nadia Ivanova, executive VP at Northern Trust Corporation.
This partnership follows Northern Trust’s commitment to stay at the forefront of digital innovation in wealth management. By choosing Finbourne as their digital partner, Northern Trust aims to streamline their valuation and reporting capabilities, ultimately enhancing their client services and investment decision-making processes.
Overall, this collaboration highlights the importance of leveraging advanced data management solutions in the financial services industry to drive efficiency, improve client experiences, and stay competitive in a rapidly evolving market.