Northern Trust (Nasdaq: NTRS) and Equity Data Science (EDS) have collaborated with Snowflake, the Data Cloud company, to enhance secure data sharing and onboarding for Asset Servicing clients using Investment Data Science capabilities.
Leveraging Snowflake’s data sharing and cloud technology, Northern Trust and EDS can provide a better, faster and more secure experience for Investment Data Science clients. Snowflake’s Financial Services Data Cloud enables sharing on a single, integrated platform, optimizing what had been a manual process dependent on physically extracting and delivering data files.
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“This is game-changing technology that replaces the old way of exchanging data,” said Paul Fahey, Head of Investment Data Science at Northern Trust. “Clients will have access to data insights that accelerate speed to market in ways that previously didn’t exist. Our goal is frictionless onboarding of new clients within 24 hours, and Snowflake’s Data Cloud puts that within reach.”
Beyond offering a faster and more secure experience, the collaboration with Snowflake allows Northern Trust and EDS to quickly update or change data elements and layout, making the solution agile and attuned to individual client needs.
“Our data science solutions paired with Snowflake’s leading data sharing and privacy capabilities give clients access to data insights at new levels of security and speed,” said Greg McCall, President of Equity Data Science. “An offering of this standard is new to the industry and has the power to change how institutions harness their own data.”
“We are pleased to support Northern Trust and Equity Data Science as they leverage Snowflake’s Financial Services Data Cloud to further Investment Data Science across the financial services industry,” said Matt Glickman, VP and Global Head of Financial Services at Snowflake. “Northern Trust joins a growing list of marquee names in the industry adopting Snowflake to help them thrive in the new data economy, while continuously maintaining security and governance standards in this competitive environment.”
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