{"id":538030,"date":"2021-09-14T09:33:05","date_gmt":"2021-09-14T13:33:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/northern-trust-automates-data-extraction-from-alternative-asset-documentation\/"},"modified":"2021-09-14T09:33:05","modified_gmt":"2021-09-14T13:33:05","slug":"northern-trust-automates-data-extraction-from-alternative-asset-documentation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/northern-trust-automates-data-extraction-from-alternative-asset-documentation\/","title":{"rendered":"Northern Trust Automates Data Extraction from Alternative Asset Documentation"},"content":{"rendered":"

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Northern Trust<\/b> Automates Data Extraction from Alternative Asset Documentation<\/b><\/p>\n

The solution leverages Microsoft Azure Applied AI Services to extract unstructured data from investment documents, providing investors with actionable insight<\/i><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nAs part of its initiative to digitize alternative asset servicing, Northern Trust has launched an artificial intelligence-powered solution to extract unstructured investment data from alternative asset documents and make it accessible and actionable for asset owner clients.\n<\/p>\n

\nBuilt 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.\n<\/p>\n

\n\u201cThe integration of unstructured data on alternative assets will fill a crucial missing piece for asset owners who have long sought an accurate view of performance, liquidity and risk analytics across multi-asset portfolios,\u201d said Pete Cherecwich, president of Corporate and Institutional Services at Northern Trust. \u201cAutomating investment data is a focus for Northern Trust, particularly for alternative assets due to their complexity and growing investor demand. Our investments in cloud technology, artificial intelligence, blockchain and machine learning will help asset owners achieve a true understanding of their assets and portfolios as a whole.\u201d\n<\/p>\n

\nData extraction and integration is the second stage of a digitization process that will help asset owners access more current, robust information regarding their alternative assets \u2013 highly manual investments which traditionally only report on a monthly or quarterly basis. Northern Trust previously announced<\/a> a custom-built robotic process automation solution to capture, categorize and store alternative asset documents on a cloud-based drive.\n<\/p>\n

\nThe new AI-powered data extraction capabilities will read stored documents and fund manager reports on holdings and performance of hedge funds, private equity and other alternative assets and pull out data points including asset names, currencies and market value. The two functions \u2013 document capture and data extraction \u2013 create an end-to-end, scalable, cloud-based process capable of moving from document receipt notification to digitized, accounting-ready data in just minutes.\n<\/p>\n

\n\u201cAI and natural language processing offers a profound impact on business processes across industries, and this use case is a stellar example of their potential for alternative asset administration,\u201d said Bharat Sandhu, senior director, Azure AI and Machine Learning at Microsoft . \u201cWe\u2019re proud to collaborate with Northern Trust to make these emerging technologies more accessible and put their benefits into the hands of institutional investors seeking greater efficiency and clearer insight into their investments.\u201d\n<\/p>\n

\nThe digitization of alternative asset servicing is designed to provide asset owners with meaningful benefits, including:\n<\/p>\n