LONDON & COPENHAGEN--(BUSINESS WIRE)--As part of its continuing Whole Office™ strategy to serve client needs across the entire investment lifecycle, Northern Trust (Nasdaq: NTRS) has reached an agreement with SimCorp®, a leading provider of Software as a Service (SaaS) investment management solutions, to enable integration for efficient data exchange for clients using the SimCorp Dimension® platform.
Designed to streamline processes, the two companies will automate custody data file exchange for Northern Trust clients via two different methods: direct integration of files which can be delivered to SimCorp, as well as integration with SimCorp’s recently launched cloud-based Asset Service Hub.
By leveraging these direct integration models, mutual clients can benefit from a more standardized data transfer process and choose which methodology best supports their current needs and long-term goals. The interoperability enhances operating model resilience and incorporates new product features from both SimCorp and Northern Trust.
“Through this collaboration, our clients can leverage SimCorp’s state-of-the-art software with pre-established connectivity and Northern Trust’s support for data management,” said James Wright, head of Asset Owners, EMEA at Northern Trust. “With SimCorp’s large presence in the Middle East and Nordics, this alliance will help us better serve our clients in those regions.”
“Our mission is to support our clients’ entire business as a strategic partner, which includes integration with leading third-party providers to help clients design their ideal target operating model,” said Marc Mallett, global head of Platform Strategy at Northern Trust. “By entering this joint agreement with SimCorp, we are answering client demand for technological integration that delivers solutions across our Whole Office™ ecosystem.”
“Digitization of products and services is driving the trend towards data interoperability between companies within the same ecosystem,” said Jaki Walsh, Vice President, Operations & Accounting at SimCorp. “This integration between Northern Trust and SimCorp enables the buy side with plug-and-play access to align with their specific and evolving needs.”
Northern Trust Whole Office™ is an advanced open architecture, multi-asset class solution serving diverse market participants including asset managers, asset owners, investors and third-party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of Strategy and Trading, Operational, Data and Digital and Analytics solutions.
About SimCorp
SimCorp offers industry-leading, integrated investment management solutions.
Our platform and ecosystem, comprising partners, services, and third-party connectivity empowers us to provide 40% of the world’s top 100 financial companies with the efficiency and flexibility needed to succeed.
With over 25 offices around the world, and more than 2,200 employees, we are a truly global, collaborative team that connects every continent and industry seamlessly.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2022, Northern Trust had assets under custody/administration of US$13.6 trillion, and assets under management of US$1.2 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
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