Share page with AddThis

News

Northern Trust and Fenergo target private fund onboarding

ComplianceAsset servicer Northern Trust has contracted Dublin-based fintech Fenergo to help with its client onboarding process.

The partnership is focused on the private capital funds market and is designed to bring more digital technology to what is often a heavily manual process.

According to Northern Trust, the decision to work with Fenergo has been driven by private capital fund managers search for more efficiency amid growing industry pressures.

The complex client onboarding and monitoring requirements are areas where these efficiencies are deemed necessary.

Fenergo's software-as-a-service, client lifecycle management software will also be used for due dilligence, anti money laundering, Know Your Customer and other compliance requirements.

"The reduction in manual document flow will enable our teams to focus on more value-added activities on behalf of our clients and further enhance our information security protocols," said Clive Bellows, head of global fund services, Emea for Northern Trust.

©2022 fundsTech

Most read features

Cryptocurrencies: Solving crypto’s sustainability problem

Cryptocurrencies like bitcoin have a huge carbon footprint but, as Nicholas Pratt discovers, environmentally friendly alternatives exist.

Roundtable: The digital transformation opportunity

The funds industry is looking at adopting new types of technology, from automation to ESG reporting, blockchain and tokenisation. A FundsTech roundtable in March explored how these will revolutionise the sector.

Proxy voting: Making every vote count

With stewardship more important than ever and digital technology to the fore, surely it is time to solve the problem of proxy voting? Nicholas Pratt investigates.

Interview: Rise of the robo-adviser

FundsTech talks to Nutmeg’s CTO, Matt Gatrell, about the role of technology in its online offering.

Regulation: Panel calls for simplicity in ESG reporting

The industry accepts the need for more rigour in ESG fund reporting, but the work will be pointless if investors don’t understand the end result. Nicholas Pratt reports.

Sponsored Profiles

Data consolidation takes centre stage in asset management M&A

MergersConsolidation between asset management firms is overwhelmingly expected to increase. Operational challenges remain thanks to legacy systems. But in a recent...

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...

Sponsored profile: A question of trust

AcrobatsAs more firms adopt agile software development practices, Petra Roche of Metrosoft explains why trust is so important in making agility work.

Sponsored feature: Compliance and the case for agility

CheetahFundsTech talks to Janusz Lorenc, CEO of Metrosoft, about asset managers’ approach to compliance risk and the case for agile software development.