Wealth management provider Northern Trust has announced it is transferring its blockchain-based platform to Broadridge, which will continue to develop it. The platform offers private equity asset servicing.
Northern Trust first launched its blockchain solution in 2017. The platform helps streamline capital call process, audit of PE lifecycle events, and deploy smart contracts. Broadridge is planning to add new capabilities to the platform, including data and analytics tools, enabling PE companies and investors to communicate and engage more easily.