Temenos has signed a multi-year contract extension with Northern Trust for its Mulifonds Global Investor platform.

The platform is set to support a “major migration of funds” following the acquisition by Northern Trust of UBS’s fund servicing units in Luxembourg.

Temenos’ capacity to deliver” a modern and open platform” through APIs has impressed the firm, with Toby Glaysher, head of global fund services international, adding that it has helped to “enhance” its time to market for new services.

“Third-party administrators are increasingly recognising both the need and urgency to digitally transform their businesses, to become more efficient, more competitive and increase scale,” added Oded Weiss, managing director of Temenos Multifonds.

“We are proud to be an important part of Northern Trust’s strategic transfer agency programme. To support them in their move away from legacy platforms to Temenos Global Investor to help them achieve their growth ambitions.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com