To grow its transfer agency business, Northern Trust acquired UBS Asset Management funds servicing units in Luxembourg in 2017. To smooth the takeover and simplify the management of huge volumes of funds, the US custodian will deploy Temenos Multifonds Global Investor. The fund administration platform will provide high levels of automation and straight-through processing, and help Northern Trust optimize tasks such as retrocession management and regulatory reporting. The Temenos solution will also deliver the scalability that Northern Trust needs to accommodate rising business volumes, and help it cement its status as a top-ten asset servicing provider in Luxembourg.
At Northern Trust we are committed to evolving our services and solutions to best support our clients’ requirements. Investing in innovative, flexible and modern technologies and working with key partners such as Temenos is part of this strategy. Temenos’ capacity to deliver a modern and open platform through Application Program Interfaces (APIs) reduces our time to market for new services enhancing client service. The Temenos Multifonds Global Investor platform will scale to support a significant increase in volumes and we look forward to our continued collaboration with Temenos Fund Administration.”
Toby Glaysher, Head of Global Fund Services at Northern Trust
