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The Data Cloud Podcast
[Encore] The Importance of a Single Source of Truth for Your Data with Mike Siswanto, Sr. Vice President at Northern Trust
Oct 17, 2023
Mike Siswanto, Sr. Vice President at Northern Trust, explains how Snowflake can eliminate the noisy neighbor problem and provide a single source of truth for data. He discusses Northern Trust's role in asset management, challenges of bridging public and private data, anonymization of health data, and the parallel between real-time insights and golfing.
29:27
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Quick takeaways
- Utilizing a total portfolio view in Snowflake allows Northern Trust to have a consolidated, single source of truth for data, eliminating the noisy neighbor problem
- Northern Trust's engagement with Snowflake and the development of Total Portfolio View (TPV) enables them to share investment book of records data with clients, facilitating better insights and analysis
Deep dives
The Focus of Northern Trust and its Differentiation
Northern Trust is a 130-year-old bank headquartered in Chicago and focuses on wealth management, asset management, and asset servicing. They cater to large institutional investors such as pension funds, endowments, family offices, and insurance companies. Northern Trust differentiates itself through its service, expertise, and technology. They have a unique approach where business leaders, subject matter experts, and tech leaders work together to enhance their Omnium platform, which is a real-time middle-back office platform. This collaboration and transparency set them apart from competitors.
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