Northern Trust has partnered with Confluence to provide financial and regulatory reporting assistance to European funds and asset managers.
The asset servicing and management solutions firm will collaborate with investment data management provider Confluence to leverage and streamline data technology for fund disclosures.
The new partnership will require individuals responsible for investment funds, such as asset managers, investors, directors and regulators, to create regulatory reports under the disclosure obligations.
Confluence’s Unity Financial Reporting solution will help Northern Trust efficiently automate statements and holding reports, while its Unity NXT Regulatory Reporting platform allows the automation of data sourcing and aggregation.
Todd Moyer, president and COO at Confluence, commented: “We are excited about the partnership and work that we have been doing with Northern Trust to help support more streamlined financial documentation for funds. This is the start of a strong partnership and we look forward to working with Northern Trust to deliver first-class products and services.”
Clive Bellows, head of global fund services, Europe, the Middle East and Africa, Northern Trust, added: “Northern Trust is committed to creating greater efficiencies for clients in how their reporting is prepared and delivered to the specifications required by regulators.”
He continued: “Partnering with Confluence helps us deliver on that objective—automating inefficient reporting practices, improving accuracy and creating high-quality documentation to support our clients’ diverse fund offerings and investment strategies.”
