Northern Trust has chosen SimCorp’s Dimension platform to automate the custody data file exchange process.
Automation will be integrated either directly, and delivered to SimCorp, or through SimCorp’s cloud-based Asset Service Hub, with clients able to choose the model that works best with their individual operational methods and goals.
Access to a standardised data transfer service will improve operating model resilience and allow for the integration of new product features from SimCorp and Northern Trust, the companies say.
Mark Mallett, global head of platform strategy at Northern Trust, says: “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. By entering this agreement, we are answering client demand for technological integration that delivers solutions across our whole office ecosystem.”
Jaki Walsh, vice president of operations and accounting at SimCorp, adds: “Digitisation of products and services is driving the trend towards data interoperability between companies within the same ecosystem. This integration between Northern Trust and SimCorp enables the buy-side with plug-and-play access to align with their specific and evolving needs.”
