Northern Trust has launched an AI-powered solution to extract unstructured investment data from alternative asset documents and make it accessible and actionable for asset owner clients. Built in collaboration with Microsoft Azure Applied AI Services, which accelerate time to value for enterprises building AI solutions, and business and consulting firm Neudesic, the proprietary solution transforms crucial information such as capital call notices, cash and stock distribution notices, and capital account statements from a variety of unstructured formats into digital, actionable insights for investment teams. The digitization of alternative asset servicing is designed to provide asset owners with meaningful benefits, including:
- A faster and better ramp-up experience when investing in new assets, empowering asset owners to be more agile about making strategy changes when needed.
- Faster delivery of accounting book of record services, including during the peak monthly and quarterly statement cycles that are typical for alternative investments.
- Enhanced accuracy rates by moving from manual to automated data entry and exception management.
- Increased data transparency