Northern Trust taps Finbourne Technology for data management solutions
Chicago-headquartered wealth management firm Northern Trust has partnered with UK-based data solutions vendor Finbourne Technology to modernise its valuation and reporting capabilities.
Finbourne’s LUCID and Luminesce selected by Northern Trust
Northern Trust will utilise Finbourne’s financial data management offering LUSID along with its data virtualisation platform Luminesce, which the vendor says combined will enable “valuations and other key data to be presented in near real-time” to Northern Trust’s clients to help them with their investment decision making.
Finbourne’s LUSID solution is “built specifically to support the volumes and complexity of data that characterise our business”, says Kelley Conway, Northern Trust’s head of corporate and digital strategy.
By leveraging Finbourne’s cloud-native Software-as-a-Service (SaaS) tech, the vendor says Northern Trust will have access to “cost-effective and scalable data calculation and processing solutions that will enable the firm to modernise their technology strategy”.
During the selection process for its new digital partner, Nadia Ivanova, executive VP, head of business services and asset servicing at Northern Trust Corporation, explains the wealth management firm selected Finbourne for its “domain expertise and their modern approach to data model extension and interoperability”.
Northern Trust follows fellow UK company Seilern Investment Management, which also selected Finbourne for its LUSID data platform last year.
