Collaboration with Appian will Digitize Events
Across the NAV Production Lifecycle
MCLEAN,
Va., March 30, 2023 /PRNewswire/
-- Northern Trust (Nasdaq: NTRS) is enhancing the net asset
value (NAV) workflow communications between private capital fund
managers and Northern Trust through a collaboration with Appian
(Nasdaq: APPN), a leading provider of low-code process automation
solutions.
Northern Trust partners with Appian to
enhance digital workflow experience for private capital fund
managers.
The solution is aimed at supporting private capital fund
managers with a secure digital experience offering enhanced
efficiency, oversight and data security across the NAV production
lifecycle.
Stephen Thomas, head of
finance at Coller Capital, said: "As one of the world's
leading investors in secondary assets for private funds, we are
committed to leveraging new technologies to enhance our operational
processes. The deployment of this solution through our fund
administrator, Northern Trust, will provide our
Funds with increased levels of transparency, efficiency and
security."
Clive Bellows, head of Global
Fund Services, Europe Middle East and Africa, at Northern Trust, said: "Private
capital fund managers are seeking a digitized experience, with
greater security of information and oversight. This solution
supports them in the creation, review and approval of information
supporting the NAV production lifecycle. Utilizing the Appian
platform will further enhance interactions with our specialist
teams and provide real-time oversight."
The digital portal, powered by Appian, provides a single point
of access for private capital fund managers to communicate
instructions, review documents and provide approvals across the NAV
process. Northern Trust has designed the workflows to reduce the
dependency on email communications and support the delivery of
sensitive documents, thereby increasing transparency and efficiency
of the process.
Michael Heffner, vice
president of Solutions and Industry Go to Market at Appian,
said: "As private capital fund managers look to scale
efficiently, they need full transparency into the work and
communications being performed by their administrators. Through our
collaboration with Northern Trust, we have jointly designed a
solution to allow them to support their private capital fund
managers through the efficient exchange of information and
documents while mitigating data privacy risk by reducing email
communications."
The development forms part of a wider alternative digital
transformation plan under Northern Trust Whole Office™,
a strategy that facilitates client access to services, solutions,
and new technologies across the investment lifecycle. Northern
Trust's private capital fund services business provides a range of
solutions for asset managers including fund administration, global
custody, depositary, and banking.
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 25 U.S. states
and Washington, D.C., and across
23 locations in Canada,
Europe, the Middle East and the Asia-Pacific region. As of December 31, 2022, Northern Trust had assets
under custody/administration of US$13.6
trillion, and assets under management of US$1.2 trillion. For more than 130 years,
Northern Trust has earned distinction as an industry leader for
exceptional service, financial expertise, integrity and innovation.
Visit us on northerntrust.com. Follow us on Twitter @NorthernTrust
or Northern Trust Corporation on LinkedIn.
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
https://www.northerntrust.com/terms-and-conditions.
About Appian
Appian is a software company that automates business processes.
The Appian Platform includes everything you need to design,
automate, and optimize even the most complex processes, from start
to finish. The world's most innovative organizations trust Appian
to improve their workflows, unify data, and optimize operations -
resulting in better growth and superior customer experiences. For
more information, visit www.appian.com. [Nasdaq: APPN]
Follow Appian: Twitter, LinkedIn.
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SOURCE Appian