Confluence to provide enhanced reporting services for Northern Trust

The partnership aims to reduce time spent on manual tasks and driving efficiencies to help investment funds meet their documentation reporting obligations.

By Joe Parsons

Data management vendor Confluence has partnered with Northern Trust to provide enhanced reporting services to the bank’s European asset manager clients.

The two organisations will leverage data technology to streamline how financial documentation is prepared and delivered for fund disclosures.

The partnership aims to reduce time spent on manual tasks and driving efficiencies to help investment funds meet their reporting obligations.

“Producing these reports can often be inefficient and time-consuming, involving highly-manual calculations and publishing processes,” said Todd Moyer, president and COO, Confluence.

“At the same time, the growing scope of international regulation and heightened scrutiny on the investment industry in recent years has made these tasks more complex and resource intensive.” 

To drive these efficiencies, Northern Trust is using Confluence’s Unity Financial Reporting to automate the creation of statement and holdings reports.

The custodian will also leverage Confluence’s Unity NXT Regulatory Reporting platform to automate the sourcing and aggregation of data for clients’ regulatory reporting. Interfacing with the two platforms, asset manager data held by Northern Trust can be matched with international templates and rules to meet the specifications of international regulators.

 “Northern Trust is committed to creating greater efficiencies for clients in how their reporting is prepared and delivered, to the specifications required by regulators,” said Clive Bellows, head of global fund services, EMEA, Northern Trust.

“Partnering with Confluence helps us deliver on that objective – automating inefficient reporting practices, improving accuracy and creating high-quality documentation to support our clients’ diverse fund offerings and investment strategies.”

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