Northern Trust Enhances Onboarding for Investors in Private Capital Funds

Northern Trust is looking to enhance the onboarding process for investors in private capital funds through a collaboration with Fenergo, a software provider focused on client lifecycle management (CLM). The new capability is part of Northern Trust’s digital innovation program to support private capital fund managers and their underlying investors. It comes as industry pressures are driving private capital fund managers and their investors to seek greater efficiency and oversight to address complex onboarding and monitoring requirements. Leveraging Fenergo’s multi-tenant Software as a Service (SaaS) CLM solution, Northern Trust will digitize and streamline onboarding journeys and due diligence processes for anti-money laundering (AML), Know Your Customer (KYC) and associated compliance rules. The digital portal provides a mechanism that aims to securely source, capture and authenticate data. Investors will be able to access the portal to upload and review all their relevant information in a single source of record. This will help to accelerate lifecycle processes by reducing the manual document flow, while providing a more secure channel for sensitive data, and enhance the operational efficiency for the overall onboarding activity.