As part of its continuing Whole Office™ strategy to serve client needs across the entire investment lifecycle, Northern Trust 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.

Source: Northern Trust