Most wealth management firms have invested in CRM, portfolio accounting, account master, statements, and ledger systems, yet the information is often inconsistent or not integrated at all. To address this issue, NorthStar has created business services to solve specific, real-world problems. Using case-driven business rules, these business services coordinate between existing middle- and back-office data and processes and front-office applications.
NorthStar packages two business services − Client Hierarchy and Enterprise Product Hub − to help firms improve their business process reuse by reusing these services in other enterprise applications. Each subsystem can be deployed either as a stand-alone or together with NorthStar software. Published APIs allow firms to interact with existing systems or develop a custom interface. |
| |
|
| |
 |
Client Hierarchy |
A consolidation framework for mapping client, account, portfolio, and legal entity information into a fully interconnected data repository that provides wealth managers a single view of the multi-dimensional, interconnected relationship hierarchy for each client. This subsystem drives key business processes such as account opening, entitlement-driven reporting, and scoping of investment strategies and financial plans. |
|
| |
 |
Enterprise Product Hub |
A consolidated data hub with comprehensive support for all of types of investment vehicles and products, displayed in a single, unified view, including reference, indicative, and marketing data for each product. This subsystem is critical for implementing open architecture and provides a scalable platform to manage product information and classification data. |
|
|
