Northern Trust building internal cloud data ‘marketplace’
Using a mix of in-house expertise and third-party technologies, the firm has constructed a cloud-based data mesh that gives internal staff access to proprietary datasets and analytical tools to deliver greater insights into client activity.
Custodian bank Northern Trust is building a cloud-based data marketplace for users within the bank that will increase its analytics capabilities while implementing more stringent controls on usage, and may over time make the marketplace available as a data source to external clients.
The marketplace is currently being used by the firm’s asset servicing division, and is now being rolled out to its asset management and wealth management divisions, initially for analytics, risk, and reporting.
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