Northern Trust has delivered market-leading communications to clients for many years. Their expectations are constantly changing and their requirements are more diverse and sophisticated than ever before. The need to continue delivering exceptional and responsive client service is central to Northern Trust’s drive to achieve competitive edge.
To get things moving, a project team was formed to evaluate the complex requirements of Northern Trust’s investment operations outsourcing (IOO) clients and to source an alternative solution for delivering client communications, including client reports, fund fact sheets, sales and marketing collateral, presentations, and pitch books. The team recognized that every aspect of report production has a profound effect on business efficiency and a lasting effect on the client experience – from report design and production through to delivery.
Northern Trust’s goal was to enhance their excellent report presentation and personalization, whilst accelerating the production cycle and improving response times. Led by Dan Houlihan, Executive Vice President, Head of Asset Servicing, America, the Northern Trust project team engaged the services of Citisoft, a leading global investment management consulting agency, to develop a rigorous evaluation methodology.
Reaching a decision
Northern Trust’s decision process incorporated strong elements of governance. The firm’s executive, product, technical, and functional teams were actively involved, and the business users played a pivotal role in determining the best solution.
Following a thorough review including a series of product demonstrations, workshops, and reference checks, Northern Trust selected SimCorp Coric to deliver an integrated, global technology platform for client reporting and marketing communications.
According to Dan Houlihan, “SimCorp Coric is well-positioned to keep Northern Trust clients at the forefront of client communications, enabling us to differentiate our service offering with sophisticated communications across multiple channels. The SimCorp Coric suite best matched our requirements and we were impressed by the experienced, solid management of the company.” Dan Houlihan continued, saying that “SimCorp Coric supports all Northern Trust’s IOO strategic client communications requirements, including custom branding and white-labeling, investment commentary, sophisticated graphic rendering capabilities, and workflow across a broad range of client communications.”