Temenos has signed a multi-year contract with global financial services company Northern Trust.
The new deal extends the banking software company’s existing investor servicing contract and supports Northern Trust’s continued focus on providing market-leading solutions and maximising operational efficiencies for its clients.
The Temenos Multifonds Global Investor platform will support a major migration of funds acquired through Northern Trust’s acquisition of UBS Asset Management’s fund servicing units in Luxembourg.
Following this purchase, Northern Trust was established as a top 10, asset-servicing provider in terms of assets under administration in Luxembourg.
“At Northern Trust, we are committed to evolving our services and solutions to best support our clients’ requirements,” said Toby Glaysher, head of global fund services, international at Northern Trust.
“Investing in innovative, flexible and modern technologies and working with key partners such as Temenos is part of this strategy.
“Temenos’ capacity to deliver a modern and open platform through application programme interfaces (APIs) reduces our time to market for new services enhancing client service.
“The Temenos Multifonds Global Investor platform will scale to support a significant increase in volumes and we look forward to our continued collaboration with Temenos Multifonds.”
Oded Weiss, managing director at Temenos Multifonds (pictured above), added: “Third-party administrators are increasingly recognising both the need and urgency to digitally transform their businesses, to become more efficient, more competitive and increase scale.
“We are proud to be an important part of Northern Trust’s strategic transfer agency programme.
“To support [it] in [its] move away from legacy platforms to Temenos Global Investor to help [it] achieve [its] growth ambitions.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Coutts partners with Mortgage Brain to offer products to intermediaries
Private bank Coutts has partnered with Mortgage Brain to make its products available – via the latter’s platforms – to UK intermediaries...
Charter Savings Bank launches two new accounts
Charter Savings Bank has introduced two new accounts: a 95-day notice account and a three-year fixed rate cash Isa...
FP Show reveals its largest and most diverse conference programme
The Finance Professional Show has confirmed its largest conference programme to date, hosting a selection of varied sessions throughout the event next month...
47% of SMEs prepared to move away from traditional banks
Almost half of SMEs in the UK (47%) would move to a challenger/digital bank or non-banking brand if they decided to switch, according to the latest research by Unisys Corporation...
Monese launches business account
Monese has launched a business account in the UK which will be bundled with its personal banking account...
Metro Bank provides £14m facility to support London office acquisition
Metro Bank has provided Kingsway Properties London with a £14m investment facility to support the acquisition of a five-storey office building in central London...
Tandem introduces new credit card blocking feature
Tandem has created a new card-blocking feature for its banking app which allows customers to react instantly to a misplaced card...
Trinity College Dublin secures €100m EIB facility
The European Investment Bank (EIB) has provided a €100m long-term loan to Trinity College Dublin for four capital developments across the campus...
Arbuthnot Banking Group completes testing phase of direct deposits business
Arbuthnot Banking Group has announced that the internal pilot offering of its direct deposits business will commence soon...
Anna to launch business current account for creative UK SMEs
Hybrid digital assistant Anna has announced plans to launch a UK business current account aimed exclusively at supporting SMEs in the creative industries...
Masthaven reaches £500m in assets
Masthaven has announced that it has generated £500m in assets driven by the growth in its diversified lending across short-term and long-term property finance...