Northern Trust Enhances Accounting and Reporting Capabilities

Northern Trust has selected SAP’s Financial Asset Management application to deliver regulatory reporting and accounting capabilities for its insurance clients.

SAP will enable clients to obtain enhanced reporting tools, via mobile devices, in addition to offering more extensive opportunities for customising reporting, and integrated general ledger capabilities.

SAP will serve as the strategic provider for Northern Trust across its insurance and multi-based accounting products. The aim is to provide more flexible solutions, in order to support the current and future needs of Northern Trust’s clients. “With the introduction of these new capabilities, we have improved our clients’ access to the information they need,” says Serge Boccassini, head of the insurance product group at Northern Trust.

When discussing the reason for choosing SAP Financial Asset Management, Dave Sullivan, head of Northern Trust insurance client servicing in North America, commented: “As our clients invest in more complex securities, such as private equity and bank loans, there is a greater need for multidimensional reporting that can cut across their investment portfolios.”