Technology

Platform aims to support automation and operational efficiency across global reporting functions. 

The new tool extends coverage to 14 additional jurisdictions, including the UK, Ireland, South Africa, Hong Kong, Australia, New Zealand, Singapore and Malaysia. 

The market infrastructure provider will immediately contribute by developing a set of industry standards to support interoperability across the ecosystem.  

Enhanced connectivity aims to streamline data flows between buy-side clients and BNP Paribas’ middle- and back-office services. 

New platform enhances data access, streamlines operations and provides a view of private asset investments for fund of funds (FOF) managers. 

The initiative, developed in collaboration with iA Financial Group, includes the first outsourced general insurance fund accounting solution in Canada. 

Fund processing costs are projected to rise by 32% over the next three years, presenting a growing challenge for firms to modernise. 

Fund managers in Asia face regulatory hurdles, market fragmentation and data transparency challenges – especially in ESG investments – amid rapid digital transformation, said Alvin Chia, head of digital assets innovation, APAC, at Northern Trust. 

The asset servicing giant is looking to integrate OpenAI’s technology and expertise to enhance its proprietary enterprise AI platform, Eliza. 

The project’s goal is to facilitate a seamless and regulated exchange of digital assets and cash as collateral.