The new client wins signify a growing acceptance among asset managers to use custodians for a range of front-office services.
Tag: Front office
The deal will integrate EDS decision support tools with Northern Trust’s core technology platform, providing it with new data science capabilities.
The new tools will provide further support for institutional investors and asset owners that manage their own sophisticated portfolios.
The move continues BNY Mellon’s evolution of its core asset servicing business, where it sees providing data management services as the next competitive battleground.
Custodians are aiming to evolve their outsourcing business model and leverage new technology to accommodate front-office solutions.
Asset managers are looking to train their teams across the front-, middle- and back-office in order to give them a full end-to-end picture of the investment process.
Northern Trust is six months in to the launch of its custody-agnostic front-office solutions business, led by a former client of the Chicago-based bank.
The front office solutions business went live in February this year to meet the growing investment, operational and technological needs of its larger asset owner clients.
As traditional fund administration services become commoditised it is no longer an accurate comparison factor between providers, according to new research.
The partnership is the latest in JP Morgan’s strategy to collaborate with FinTech firms and provide its clients middle and back-office data to front-office decision makers.