Northern Trust and Equity Data Science (EDS), in which Northern Trust has a strategic stake, have collaborated with Snowflake, the data cloud company, to enhance secure data sharing and onboarding for asset servicing clients using Northern’s Investment Data Science capabilities.
Leveraging Snowflake’s data-sharing and cloud technology, Northern Trust and EDS can provide a better, faster and more secure experience for Investment Data Science clients. Snowflake’s Financial Services Data Cloud enables sharing on a single, integrated platform, optimising what had been a manual process dependent on physically extracting and delivering data files. Beyond offering a faster and more secure experience, the collaboration with Snowflake allows Northern Trust and EDS to quickly update or change data elements and layout, making the solution agile and attuned to individual client needs.
The collaboration follows an earlier announcement of a strategic initiative between Citi and Snowflake, aiming to re-imagine how data flows across financial services transactions to provide a frictionless solution for post-trade processes across the industry. The partnership brings together Snowflake’s secure data sharing and multi-party permissioning capabilities and Citi’s extensive market expertise with the industry-leading proprietary custody network spanning over 60 markets. This collaboration aims to offer a unique solution to control data models and how end-to-end transaction data flows across a business to meet the diverse requirements of global clients.