Transforming risk management and improving
operational efficiency, Broadridge is integrating several complex
asset servicing functions into a single, streamlined
solution
NEW
YORK and LONDON,
Sept. 16,
2024 /PRNewswire/ -- To redefine the financial
industry's conventional approach to asset servicing (the range of
administrative and operational functions that support the
management and maintenance of investment assets), global Fintech
leader Broadridge Financial Solutions Inc. (NYSE: BR) is
introducing a ground-breaking integration of several asset
servicing functions into a single, real-time, multi-currency
platform across capital markets, wealth management, asset
management and global custody. This innovation transforms
traditionally fragmented activities and extends well beyond
existing industry asset servicing solutions to include
tax and performance reporting, cost basis, proxy, class actions,
reclaims and a truly global custody platform. The streamlined
solution enhances automation, drives straight-through processing
benefits, leverages a common data ontology to optimize AI
utilization and improves operational accuracy, speed and risk
mitigation.
"Broadridge's new unified platform represents a major shift in
asset servicing," said Michael
Alexander, President of Wealth Management at Broadridge.
"Changes like the transition to T+1 and eventual T+0 settlement
cycles and the rise of AI strategies are driving the demand for
real-time, standardized data and streamlined, end-to-end
operations. Companies have long struggled with challenges such as
high costs, delays in processing, risk evaluation, data
reconciliation and sub-par service levels. With our trusted
expertise and transformative technology, we are uniquely positioned
to create a single, best-in-class solution that addresses these
issues head-on and can help our clients operate more efficiently in
an increasingly digital and data-driven environment."
Broadridge Global Asset Servicing combines over 18 components to
deliver unprecedented functionality and a "single gateway" data
integration approach. It streamlines the management and maintenance
of financial assets, facilitating their safekeeping, accurate
transaction processing, and compliance with regulations. Solution
features include:
- Modular design to seamlessly support onboarding and the overall
experience.
- Ability for institutions to consolidate and reconcile data more
efficiently across the entire business, eliminating friction and
minimizing financial and reputational risk.
- Simplified tech stack to help users realize straight-through
processing across the asset servicing ecosphere.
- Consolidated, real-time data supports advanced, generative
artificial intelligence to provide predictive and operational
analytics, driving efficiency and real-time decision making.
The platform is powered by real-time advisor and customer event
notifications with a full omnichannel communications system that
minimizes decision-making time and reduces risk. Its seamless
interoperability transforms asset servicing operations, eliminates
workarounds, and reduces risk. The modular design allows
organizations to select the components needed today and
effortlessly deploy additional capabilities as requirements
evolve.
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), is a global technology leader with the trusted expertise and
transformative technology to help clients and the financial
services industry operate, innovate, and grow. We power investing,
governance, and communications for our clients – driving
operational resiliency, elevating business performance, and
transforming investor experiences.
Our technology and operations platforms underpin the daily
trading of more than $10 trillion of
equities, fixed income and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P 500® Index,
employing over 14,000 associates in 21 countries. For more
information about us, please visit www.broadridge.com.
Media Contacts:
North
America
Matthew
Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com
Europe
Ruby Yeomans
Cognito
+44 (0) 7463730043
BroadridgeEMEA@cognitomedia.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/broadridge-re-defines-global-asset-servicing-introduces-financial-industrys-first-modular-platform-to-unify-multiple-functions-302248426.html
SOURCE Broadridge Financial Solutions, Inc.
