Northern Trust has announced two fintech collaborations.
First, it has established a relationship with Enfusion, a U.S.-based provider of cloud-native investment management software and services, to provide portfolio management, order and execution management system, and analytics capabilities to mutual clients. Through this collaboration, Enfusion and Northern Trust will offer asset manager, hedge fund and internally managed asset owner clients a fully integrated, end-to-end solution that can streamline workflows while leveraging each company’s strengths.
Enfusion’s SaaS solution delivers portfolio management, trade execution, order management, and risk management functionality from a single platform, removing key operational and technical barriers that asset managers and hedge funds face. The software components work from a single, unified dataset, keeping investment and accounting books of record (IBOR and ABOR) in sync throughout the trading day, so the front, middle and back offices all have access to the same information. This alliance will enable mutually supported interfaces between the Enfusion platform and Northern Trust’s core asset servicing platforms, expediting implementations, improving data access and, ultimately, increasing operational efficiency.
Building on the alliance, Enfusion has co-developed a certified, mutually supported interface with Northern Trust partner Equity Data Science, Inc. (EDS), which is in use by several joint clients. EDS offers a cloud-based platform that provides applications and decision-making tools to asset managers and hedge funds across the investment lifecycle, including idea generation, research management, portfolio construction, risk management and performance attribution.
Second, it has appointed Fenergo, a software provider focused on client lifecycle management (CLM), to assist in its digital innovation program to support private capital fund managers and their underlying investors. Leveraging Fenergo’s multi-tenant SaaS CLM solution, Northern Trust will digitise and streamline onboarding and due diligence processes for AML, KYC and associated compliance rules.