Northern Trust, an asset servicer, has selected Finbourne Technology to provide enhanced valuations and reporting capabilities for their enterprise global technology.
The Chicago-headquartered firm will leverage Finbourne’s cloud-native financial data management solution LUSID and specialist financial data virtualisation engine, Luminesce, to modernise their valuations and reporting functions and provide enhanced service delivery to clients.
Utilising Finbourne’s cloud-native Software as a Service (SaaS), Northern Trust will have access to scalable data calculation and processing solutions.
Using Finbourne’s market-leading data virtualisation tool, Luminesce, data will be loaded into LUSID. This enables users to validate and analyse activity through automation, for example valuations or restatements.
Finbourne’s open API approach means Northern Trust will benefit from an integration between LUSID and their broader data mesh platform. The system interoperability enables valuations and other key data to be presented in near real-time.
Kelley Conway, head of corporate and digital strategy for Northern Trust said: “Our digitisation journey is sharply focused on democratising data in ways that unlock meaningful value for clients. Finbourne’s LUSID platform, built specifically to support the volumes and complexity of data that characterise our business, is an exciting step in that broader journey that will help us partner with clients on the innovations that matter most to them.”
©Markets Media Europe 2024
