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Northern Trust and FINBOURNE Technology team up for innovation

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TLDR:

  • Northern Trust partners with FINBOURNE Technology to advance digitalization efforts
  • FINBOURNE’s cloud-native financial data management solution, LUSID, and data virtualization engine, Luminesce, will be leveraged to modernize valuations and reporting functions

Northern Trust, a US-based firm, has announced a strategic partnership with FINBOURNE Technology to enhance their digitalization efforts. By selecting FINBOURNE as their technology partner, Northern Trust aims to modernize their valuation and reporting capabilities. This collaboration will involve the use of FINBOURNE’s cloud-native financial data management solution, LUSID, along with their specialist financial data virtualization engine, Luminesce. The integration of these tools is expected to improve service delivery to Northern Trust’s clients.

The decision to partner with FINBOURNE aligns with Northern Trust’s broader digitalization goals, including the adoption of a data mesh approach to enterprise data management. By utilizing FINBOURNE’s cloud-native Software as a Service (SaaS), Northern Trust anticipates accessing cost-effective and scalable data calculation and processing solutions. This move is seen as a step towards modernizing the firm’s technology strategy and enhancing service and delivery capabilities.

Through the use of Luminesce, data will be efficiently loaded into LUSID, enabling users to validate and analyze valuations and restatements through automation. The open API approach of FINBOURNE will facilitate seamless integration between LUSID and Northern Trust’s broader data mesh platform, aiming to enhance the speed and efficiency of service delivery to clients.

Officials from Northern Trust Corporation have expressed confidence in FINBOURNE’s domain expertise and modern data management approach. They anticipate that leveraging FINBOURNE’s solutions will enhance customer experience and unlock meaningful value for clients. On the other hand, officials from FINBOURNE Technology are excited to support Northern Trust in future-proofing their data strategy and improving service delivery over time.

In addition to this partnership, Northern Trust had previously collaborated with NUS Computing and NUS AIDF for blockchain-related research and industry development initiatives. These initiatives focused on defining the future of blockchain for institutional investors and exploring methods for maintaining control of digital assets on third-party blockchains.

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