Northern Trust to provide TrustPortal to three financial institutions
Northern Trust will provide correspondent trust and custody-related services for three financial institutions: Republic Bancorp in Louisville, Kentucky; Merrimack County Savings Bank in Concord, New Hampshire; and Essex Street Associates in Beverly, Massachusetts.
Northern Trust delivers trust accounting and investment management services through TrustPortal, a wealth management focused solution for financial institutions.
"The TrustPortal will streamline our business by combining trust services, investments, client access and other solutions on a single platform," says Joe Sutter, vice president of Republic Bancorp. "This multi-functional platform, along with Northern Trust's domestic and global custody capabilities, will provide us with the tools to better serve our clients."
TrustPortal is an integrated service platform and one-stop internet entry point for trust accounting, investment management and client internet access, and account review applications. It is the evolution of Trust/Rite, the standalone trust accounting application created by Northern Trust in partnership with Fi-Tek. TrustPortal applications are now installed in more than 140 financial institutions across the US.
"We have seen a migration from older applications to the TrustPortal resulting from our opportunity to provide a cost-effective, productive environment for all users," says David Batrich, Northern Trust's director of sales for correspondent trust services.
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