Northern Trust cut client data preparation to three days from two and a half weeks, CIO reported. Staff still check it.
Northern Trust, which keeps and reports on assets for big investors, unveiled the agent on Monday.
It turns years of a new client's transaction history into the format the bank's reporting platform needs. Staff used to map that by hand.
Microsoft Frontier Company supplied the engineers, who worked alongside Northern Trust's own staff. Microsoft launched the $2.5 billion unit in July to push clients past AI pilots. The agent runs on Azure and works with Excel and SharePoint.
Chief operating officer Pete Cherecwich put the time saving at 83%. He put first-pass data matching above 96% on an F1 score, a measure of how correct and complete the matches are. The agent was tested only on data with identifying details stripped out.
"When I think about ROI, I wouldn't look at just one number," Cherecwich said. He counted speed to revenue and the client's experience alongside the manual work removed.
No project cost, staffing change or revenue figure was given. Northern Trust's account, as CIO.com reported it, gives the days saved and not what they were worth.
Sources
For your next steering committee
- 1Ask which AI tools already touch your ERP or finance data, including the ones nobody approved.
- 2Ask what each tool is allowed to change, and who reviews what it changed.
- 3Ask how the result is measured, and who decides to switch a tool off.
Issue 01 of the ERP LEADERS brief puts a timeline, the three-number review and six questions on one page. Read issue 01
Welcome back. · Issue 01
