Academic journal article ABA Banking Journal

Northern Trust Pushes Payments Processing to Unix

Academic journal article ABA Banking Journal

Northern Trust Pushes Payments Processing to Unix

Article excerpt

Northern Trust, a multibank holding company based in Chicago with $2.6 trillion in assets under administration and $589 billion in assets under investment management, is growing its gLobal custody portfolio exponentially, explains Barry Tebbutt, senior vice-president. The bank focuses on two main businesses: corporate institutional services (banking and trust) and private banking. The bank also has a large investment management business that services both private and corporate businesses.

The bank had been a customer of IntraNet, Newton, Mass., since the mid-1990's and was happy with the relationship it had with the vendor of whoLesaLe payments and message processing soutions. In fact, Northern Trust had been using IntraNet's iMTS before IntraNet was acquired by ACI in 1998.

IntraNet's iMTS is a payment engine for processing payment instructions generated in the wholesale and international banking divisions of commercial banks both internally as well as those received externally from central banks, clearing houses, SWIFT, and telex. According to IntraNet, 23 of the top 100 world banks pump $1.3 trillion per day through the iMTS payment engine. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.