As data sources proliferate, asset owners are looking for ways to harmonize disparate data sources and non-standard formats of data, according to John Turney, Head of Northern Trust Front Office Solutions.
He said that asset owners have complex investments, including public and private market assets, that require resources and time to evaluate and monitor.
“Allocators are seeking portfolio management solutions delivered in a unified framework with the data they need, in the format they need it, to make informed decisions and optimize performance,” Turney told Traders Magazine.
He added that when it comes to managing documents, research management, and manager relationship functionality (CRM) asset owners seek a centralized repository for collaboration with faster access and retrieval.
Asset owners receive thousands of files – e.g., quarterly updates, legal documents— and often struggle to efficiently ingest and manage these documents, according to Turney.
“As a result, they may become burdened by manual processes rather than focused on higher value work,” he said.
“Investment teams seek a platform that can simplify this process and provide faster access to the information they need to make portfolio decisions,” he added.
On Wednesday, April 14, Northern Trust expanded accessibility to its Front Office Solutions platform for asset owners and other institutional investors with a new mobile application for Android and iOS users.
“Our mobile app provides an additional flexible access point so that clients can access the platform when they need it, wherever they are,” commented Turney.
Front Office Solutions directly solves the challenges of busy clients who are seeking on-demand access to their documents, research management, and manager relationship functionality.
The mobile application allows clients to search for files and notes with flexible filtering options.
In addition, it allows clients to add notes on the go with the option to save file attachments so that information can be captured wherever and whenever clients choose.
“In addition to flexible access points, such as mobile applications, asset owners are seeking smart applications to streamline their existing processes,” Turney said,
Machine learning is an example of innovative technology that can offer these types of enhancements, he added.
“Asset owners can leverage machine learning to streamline the research management process and automate manual steps,” Turney said.
Front Office Solutions is an integrated, cloud-based service investment lifecycle platform that enables investment offices to view and analyze portfolio and investment information across all asset classes in a unified framework.
It serves complex asset owners including foundations, endowments, family offices, pensions and outsourced chief investment officers (OCIOs).
The mobile application is available on the Apple App store for iOS devices and Google Play for Android devices.
Front Office Solutions will continue to add functionality in the new app through planned future releases, according to Turney.
This is the first version of the refreshed mobile application.
Front Office Solutions will continue to build functionality in the environment over the course of the year, Turney said.
“The development efforts are currently focused on adding files and notes to enable clients to access their documents on the fly. These efforts will expand throughout the year to integrate additional features, such as adding manager data, manager information and portfolio details,” he commented.
