Northern Trust, a large asset servicer, has selected FINBOURNE Technology to provide enhanced valuations and reporting capabilities for its enterprise global technology. The Chicago-headquartered firm ran a thorough technology partner selection process before deciding to implement FINBOURNE’s cloud-native financial data management solution LUSID and data virtualisation engine Luminesce to modernise its valuations and reporting functions and provide better service delivery to clients.
Northern Trust outlined specific requirements for a technology provider to support the modernisation while integrating with its broader digitalisation journey, including a data mesh approach to enterprise data management delivered through the Matrix Data Platform as its new digital backbone.
Nadia Ivanova, executive vice president, head of business services, asset servicing at Northern Trust comments: “We are impressed by FINBOURNE’s domain expertise and its modern approach to data model extension and interoperability. At Northern Trust, we have a client-centric service and hope to continue enhancing the client experience with FINBOURNE’s technology.”
Using FINBOURNE’s LUSID cloud-native Software as a Service (SaaS) solution, Northern Trust will have access to cost-effective and scalable data calculation and processing solutions. The Luminesce virtualisation tool will be used to load data into LUSID, enabling users to validate and analyse activity through automation quickly, efficiently and accurately. The vendor’s open API approach will support integration between LUSID and the asset servicer’s broader data mesh platform.
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