Northern Trust has launched a machine learning-powered document capture capability as the foundation of a multi-year investment to digitise alternative asset servicing and enhance the experience for clients that invest in complex private market and unlisted assets. The proprietary solution combines robotic process automation and cloud-based technology to provide transparency and data standardisation that enables greater understanding of portfolio risk and performance.
With >USD1.6trn of alternatives AuC/A, Northern Trust processes more than 1.5m alternative asset documents each year. The intelligent document capture solution deploys custom-built robotic process automation that enables self-service operations to collect documents from emails, whether in the form of download link or within the email text. Documents are stored on a cloud-based drive where intelligent tools extract identifying details such as the type of document (e.g., statements, capital call notices, and distribution notices) and the name of the fund company, tasks previously performed manually. This is the first in a series of releases deploying emerging technologies to digitise alternative asset servicing.