Northern Trust launches machine learning module for managing asset owner research

CHICAGO–(BUSINESS WIRE)–As part of its initiative to increase the efficiency and transparency of alternative asset services, Northern Trust (Nasdaq: NTRS) has launched a feature within its Front Office Solutions platform that uses the machine learning to allow sophisticated asset allocators to have better oversight of their research processes.

Every month, asset allocators for endowments, foundations, family offices and other institutions receive thousands of files, including newsletters, fund statements, quarterly updates and legal documents that are manually ranked for investment manager research purposes. The new feature leverages knowledge of a user’s past behavior to tag search management documents with intelligently suggested attributes before uploading them to the Front Office Solutions platform.

Emerging technologies, including artificial intelligence, blockchain and cloud technology, have enabled a higher level of automation in alternative investments such as private equity, real estate and infrastructure, which have traditionally required processing complex manual. Northern Trust has previously announced procurement and document scanning solutions to provide more efficiency and better oversight for asset owners investing in alternatives.

“Front Office solutions embrace innovative technologies like machine learning to make investment teams more productive by providing faster access to the information they need to make portfolio decisions,” said Melanie Pickett, Head of of Northern Trust Front Office Solutions. “The new tagging feature is an important step towards our ultimate goal of a fully automated document management workflow for alternative assets, which will improve efficiency and transparency.”

The new tool is entirely personalized by the asset allocator, since no two allocators have the same needs. Categories are generated based on historical activity, and the machine learning model continues to refine suggestions as users interact with the feature. Learning occurs in real time, rather than the less frequent learned enhancements offered by many tools currently available.

“Machine learning promotes significant efficiencies in administrative work related to portfolio management, reducing staff time and improving research results. With the administrative burden eased and the possibility of human error limited, owners of complex assets can focus on better allocation and trading decisions, increasing the likelihood of improved operational alpha,” said said Pickett.

Front Office Solutions is an integrated cloud-based data and services platform that enables investment offices to visualize and analyze data from disparate sources across all asset classes in one central repository. It provides owners of complex assets, including foundations, endowments, family offices, pension plans and outsourced investment managers (OCIOs), with the data they need, in the format they need. need, enabling them to make informed decisions that help them excel in their strategies and optimize performance.

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About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 US states and Washington, DC, and 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 distinguished itself as an industry leader for its 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 USA, incorporated with limited liability in the USA Please read our global and regulatory information.