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Northern Trust Enhances Digitization of Unstructured Data for Alternative Asset Investors
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Northern Trust announced a collaboration with Accelex, enhancing its capabilities in handling unstructured data related to alternative investments. This partnership aims to provide asset owners with improved insights by leveraging Accelex's technology, which automates data extraction from complex investment documents. With this integration, Northern Trust seeks to assist clients in better investment decision-making by offering more granular data and timely insights, thereby continuing its initiative to digitize alternative asset servicing.
Positive
Enhanced data capabilities from collaboration with Accelex.
Improved insights and efficiencies for asset owner clients.
Automation of unstructured data extraction process.
Continued commitment to digitizing alternative asset servicing.
Negative
None.
Agreement with Accelex provides Front Office Solutions clients with greater efficiencies in harnessing unstructured data on alternative investments
CHICAGO--(BUSINESS WIRE)--
Northern Trust has enhanced the depth and range of alternative asset data it can provide to asset owner clients through a collaboration with Accelex, a data acquisition, analytics and reporting provider focused on the alternative investment space. The new capability for unstructured data complements other artificial intelligence-powered data extraction capabilities that Northern Trust has developed in house for its alternative asset servicing business and for clients of Northern Trust’s Front Office Solutions platform.
Limited partners in private equity and other alternative investments are pushing for greater insights from the mountain of unstructured data they receive from investment managers. Increasingly, LPs seek data beyond basic performance and exposure metrics to analyze their investments. Leveraging Accelex technology, Northern Trust can provide asset owners with a broader, more timely range of insights as the solution expands data granularity and automates the extraction process to provide cleaner inputs to the Northern Trust Front Office Solutions system.
“Northern Trust continues on our multi-year initiative to digitize the servicing of alternative assets,” said Melanie Pickett, head of Front Office Solutions at Northern Trust. “By leveraging Accelex’s scalable technology to complement our top-notch service teams, we will provide our asset allocator clients with an increasing ability to ingest, curate, and use unstructured data to lead them to insights and improve their investment decision-making.”
“We are thrilled to collaborate with Northern Trust, enabling them to deliver compelling alternative investment transparency for asset owners worldwide,” said Michael Aldridge, president of Accelex. “Our data science-led solution automates the often-manual process of extracting data from large volumes of complex fund investment documents. Accelex seamlessly surfaces data at both the fund and underlying asset level, allowing Northern Trust to offer critical look-through insights to their clients.”
About Accelex
Accelex (https://accelextech.com) provides data acquisition, analytics and reporting solutions for investors and asset servicers enabling firms to access the full potential of critical investment performance and transactional data. Powered by proprietary artificial intelligence and machine learning techniques, Accelex solutions automate processes for the extraction, analysis and sharing of difficult-to-access unstructured data. Founded by senior alternative investment executives, former BCG partners and successful fintech entrepreneurs, Accelex is headquartered in London with offices in Paris, Luxembourg, New York and Toronto.
About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2021, Northern Trust had assets under custody/administration of US$15.8 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
What is the significance of the Northern Trust and Accelex partnership for NTRS?
The partnership enhances Northern Trust's capabilities in managing unstructured data on alternative investments, providing clients with better insights and efficiencies.
How does Northern Trust plan to utilize the Accelex technology?
Northern Trust intends to automate the extraction of unstructured data, thereby improving the data granularity and insights available to clients.
What are the expected benefits of the collaboration for Northern Trust clients?
Clients can expect improved investment decision-making due to broader and more timely insights from their alternative investments.
What does the collaboration with Accelex indicate about Northern Trust's business strategy?
It indicates a continued focus on digitizing the servicing of alternative assets, aligning with client demands for more data transparency and efficiency.
When was the collaboration with Accelex announced by Northern Trust?
The collaboration was announced in a press release on December 15, 2021.
