Introduction to Northern Trust’s Challenge
Northern Trust, a reputable financial institution, had been relying on existing client communications reporting tools that were globally accepted but not specifically designed for investment management. Their client service heavily depended on technical staff for design and production, creating bottlenecks and inefficiencies. To address this challenge, Northern Trust sought a solution that was adaptable, user-friendly, and could set them apart in the competitive market of middle office outsourcing.
Meeting Evolving Client Demands
Northern Trust has a history of delivering market-leading communications to their clients, but as client expectations evolved and diversified, the firm needed to adapt. To maintain their competitive edge, Northern Trust recognized the importance of enhancing their client service and personalization capabilities. This led to the formation of a project team tasked with assessing the complex requirements of their investment operations outsourcing clients and finding a solution that could streamline client communications across various platforms.
The Solution with SimCorp Dimension
Led by Dan Houlihan, Executive Vice President, Head of Asset Servicing, America, the project team at Northern Trust leveraged the services of Citisoft, a renowned investment management consulting agency, to evaluate their needs. After a thorough assessment, Northern Trust decided to implement SimCorp Dimension, a comprehensive investment management solution. SimCorp Dimension offered a robust platform for designing and producing client reports, fund fact sheets, marketing collateral, and more, all while improving business efficiency and enhancing the overall client experience.
Benefits and Outcomes
By implementing SimCorp Dimension, Northern Trust was able to enhance the presentation and personalization of client reports, accelerate the production cycle, and improve response times significantly. The solution not only streamlined their operations but also allowed them to differentiate their offerings in a competitive landscape. With SimCorp Dimension, Northern Trust achieved greater client satisfaction and expanded their market reach by delivering customized and timely communications to their clients.
Stay Ahead in Today’s Competitive Market!
Unlock your company’s full potential with a Virtual Delivery Center (VDC). Gain specialized expertise, drive
seamless operations, and scale effortlessly for long-term success.
Book A Meeting To Setup A VDC