Press release
Northern Trust Enhances Digital Workflow Experience for Private Capital Fund Managers
Collaboration with Appian will Digitize Events Across the NAV Production Lifecycle MCLEAN, Va., March 30, 2023 /PRNewswire/ -- Northern Trust (Nasdaq: NTRS)
About this update from Northern Trust Corporation
[{"type":"text","content":"Collaboration with Appian will Digitize Events Across the NAV Production Lifecycle\nMCLEAN, 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.\n\n \n \n \n \n \n \n\n \nNorthern 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.\nStephen 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.\"\nClive 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.\" \nThe 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.\nMichael 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 f...