UK fintech Finbourne has been mandated by global custodian Northern Trust (NT) to support its digital transformation efforts.

More specifically, NT will use Finbourne’s cloud-based data management product Lusid and its data visualisation engine Luminesence.

The technology will be used to modernise the asset servicer’s valuation and reporting functions by enabling automated validation and analysis of activity.

The Finbourne products will also be part of NT’s broader digitisation strategy, which includes a data mesh approach to data management and delivery via NT’s Matrix data platform.

According to Kelley Conway, head of corporate and digital strategy for Northern Trust, the selection of Finbourne is in line with its “digitisation journey” which is “sharply focused on democratising data in ways that unlock meaningful value for clients”.

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