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Northern Trust and Confluence Partnership Enhances Financial and Regulatory Reporting for the Funds Industry

June 25, 2019

London and Pittsburgh, 25 June 2019 – Northern Trust (Nasdaq: NTRS), a leading provider of asset servicing solutions and Confluence, a global leader in investment data management automation for regulatory, financial and investor reporting, today announce they are partnering to deliver financial and regulatory reporting solutions for asset managers.

Together the organizations are leveraging data technology to streamline how financial documentation is prepared and delivered for fund disclosures – reducing time spent on manual tasks and driving efficiencies to help clients meet reporting obligations in a timely and accurate manner.

Those responsible for investment funds – including asset managers, investors, directors and regulators – must produce a wide range of financial statements and regulatory reports as part of their disclosure obligations.

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

“We are excited at Confluence about the partnership and work that we have been doing with Northern Trust to help support more streamlined financial documentation for funds. This is the start of a strong partnership and we look forward to working with Northern Trust to deliver first-class products and services.”

To drive efficiencies across these areas, Northern Trust is using Confluence’s Unity Financial Reporting® to automate the creation of statements and holdings reports. The solution automates much of the process involved to build these documents – reducing the time it typically takes to prepare first drafts, while the use of standardized templates helps ensure consistency of reporting style.

Simultaneously, Northern Trust is drawing on Confluence’s Unity NXT® Regulatory Reporting platform to automate the sourcing and aggregation of data for clients’ regulatory reporting. Interfacing with Confluence’s platform, client data held by Northern Trust is matched with international templates and rules to meet the specifications of international regulators.       

Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa at Northern Trust comments: “Northern Trust is committed to creating greater efficiencies for clients in how their reporting is prepared and delivered, to the specifications required by regulators. 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.”

Northern Trust provides a range of fund administration and associated solutions through its Global Fund Services business. This business also provides global custody, depositary, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.

Confluence is a global leader in data-driven solutions for efficiency and control. The company is providing groundbreaking technology to solve tough data management and automation challenges for the asset management industry, including financial reporting, regulatory reporting and investor communications.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region.

As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.

Northern Trust
Europe, Middle East, Africa & Asia-Pacific Contact:                                              

Camilla Greene                  
+44 (0) 207 982 2176

US & Canada Contact:

John O’Connell
+1 312 444 2388


About Confluence

As a proven leader delivering an innovative platform to put data first in asset management, Confluence is leading the DataTech evolution for post-trade reporting. We focus on getting the data right, then reusing it across multiple regulatory, financial, statutory, performance and investor communications deliverables for speed, efficiency and control. Eight of the top 10 global service providers license Confluence products and all of the top 10 global asset managers have business processes automated through Confluence. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with locations in Ho Chi Minh City, London and Luxembourg.  

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