Asset management provider Northern Trust is enhancing the net asset value (NAV) workflow communications between itself and private capital fund managers.
The solution is being brought to private capital fund managers through a collaboration with Appian — a provider of low-code process automation solutions — and aims to support managers with a secure digital experience offering enhanced efficiency, oversight and data security across the NAV production lifecycle.
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.
Powered by Appian, the digital portal aims to provide 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.
Clive Bellows, head of Global Fund Services, EMEA at Northern Trust, adds: “Private capital fund managers are seeking a digitised 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. Using the Appian platform will further enhance interactions with our specialist teams and provide real-time oversight.”
Michael Heffner, vice president of solutions and industry go to market at Appian, comments: “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.”
