Northern Trust and EDS adopt Snowflake for data services
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Northern Trust and EDS adopt Snowflake for data services 19 November 2021US Reporter: Jenna Lomax
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Northern Trust and Equity Data Science (EDS) have partnered with Snowflake, the datacloud company, to enhance secure data sharing and onboarding for asset servicing clients using investment data science capabilities.
Leveraging Snowflake’s data sharing and cloud technology, Northern Trust and EDS aims to provide a better, faster and more secure experience for investment data science clients.
Snowflake’s Financial Services Data Cloud enables sharing on a single, integrated platform, optimising what had previously been a manual process, dependent on physically extracting and delivering data files.
The partnership with Snowflake allows Northern Trust and EDS to quickly update or change data elements and layout, making the solution individual to client needs.
Paul Fahey, head of investment data science at Northern Trust, says: “This is game-changing technology that replaces the old way of exchanging data. Clients will have access to data insights that accelerate speed to market in ways that previously didn’t exist. Our goal is frictionless onboarding of new clients within 24 hours, and Snowflake’s Data Cloud puts that within reach.”
Matt Glickman, vice president and global head of financial services at Snowflake, comments: “Northern Trust joins a growing list of marquee names in the industry adopting Snowflake to help them thrive in the new data economy, while continuously maintaining security and governance standards in this competitive environment.”
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