U.S. Bank expands reporting services for custody clients; creates suite of alternative asset data metrics

U.S. Bank launched a full suite of lifecycle data metrics, with faster reporting on private equity, hedge fund and other alternative fund data. This capability, designed for custody clients, is made possible by new automated data extraction technology.

“One of the pain points we experience is the challenge of efficiently extracting critical data from structured and unstructured fund documents. Efficient data extraction from manager reports can be tremendously challenging, especially as it relates to alternative investments,” said Dale Smith, executive vice president and head of U.S. Bank Trust Technology and Support Services. “Our new application helps address this issue. It benefits U.S. Bank’s custody clients by streamlining and enhancing our service model, allowing us to deliver client reporting faster and more accurately than ever before.”

This new process of pulling essential data from private markets is made possible in part by U.S. Bank’s proprietary Complex Assets technology. The process simplifies and expedites processing and more accurately captures and integrates alternative investment data into client reporting.

“This application benefits U.S. Bank’s custody clients by streamlining and enhancing our service model, allowing us to get our clients reports faster and more accurately than ever before,” added Smith. “It further demonstrates U.S. Bank’s commitment to deploying document digitization technologies to this market.”