NEW YORK, May 1, 2019 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and
part of the S&P 500® Index, today announced that it has
acquired Rockall, a market leading provider of securities-based
lending (SBL) and collateral management solutions for wealth
management firms and commercial banks. The acquisition expands
Broadridge's core front-to-back office wealth capabilities,
providing innovative SBL and collateral management technology
solutions to help firms manage risk and optimize clients'
securities lending and financing needs.
Rockall currently enables the management of more than
$3 trillion worth of collateral daily
for some of the world's top banks, and 10 of the top 30 U.S. banks
use Rockall's technology to streamline collateral management,
safeguard against credit risk and enhance lending. Two key
offerings Rockall provides include: a cloud-based wealth lending
solution, FASTNET, which automates the evaluation, monitoring and
management of SBL, and an enterprise banking collateral management
solution, COLLATE, which supports strategies and change levers that
drive enhanced credit risk management, regulatory reporting,
process simplification, and capital efficiency.
"The acquisition of Rockall is the most recent example of
Broadridge growing our wealth franchise by expanding our core
wealth offering for clients," said Michael
Alexander, head of North American Wealth and Capital Markets
Solutions for Broadridge. "Securities-based lending and collateral
management are key industry areas in need of innovation, and we
look forward to leveraging next-generation technology to provide
proven solutions to clients while mutualizing key front-, middle-
and back-office functions."
Securities-based lending has grown in the past several years to
become viewed as an essential offering for wealth management firms
to improve revenues and enhance retention of both advisors and
investors. An issue facing many wealth management firms around SBL
is cumbersome infrastructure and internal systems dependent on
manual processes that slow down the lending decision process and
hinder risk management. An increasing number of investors are
recognizing the value of securities-based lines of credit and the
need for financial services firms to automate, scale and optimize
their SBL business operations.
"We are excited to have our innovative SBL and collateral
management technology solutions be a part of Broadridge's wealth
management offerings, serving an even greater number of clients,"
said Richard Bryce, CEO of Rockall.
"Broadridge is a leader in the wealth management industry and its
size and scale accelerates our ability to meet the increasing
demand from advisors and investors."
Houlihan Lokey acted as exclusive
financial and strategic advisor to Rockall. Terms of the deal were
not disclosed.
About Rockall
Rockall is the global expert in collateral management technology
helping financial institutions of all sizes to improve the
performance of wealth, retail, commercial and corporate lending.
Rockall currently enables the management of more than $3 Trillion worth of collateral daily for some of
the world's top banks. Ten of the Top 30 US banks use
Rockall's technology to streamline collateral management, safeguard
against credit risk and enhance lending.
FASTNET from Rockall delivers liquid lending in the cloud and
automates the evaluation, monitoring, and management of
securities-based lending or liquid lending. COLLATE provides
holistic collateral management to support the strategies and
change levers which drive enhanced credit risk management,
regulatory reporting, process simplification, and capital
efficiency.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) a $4 billion global Fintech leader and a part of
the S&P 500® Index, is a leading provider of investor
communications and technology-driven solutions to banks,
broker-dealers, asset managers and corporate issuers globally.
Broadridge's investor communications, securities processing and
managed services solutions help clients reduce their capital
investments in operations infrastructure, allowing them to increase
their focus on core business activities. With over 50 years of
experience, Broadridge's infrastructure underpins proxy voting
services for over 50 percent of public companies and mutual funds
globally, and processes on average more than US $5 trillion in fixed income and equity trades per
day. Broadridge employs over 10,000 full-time associates in 18
countries.
For more information about Broadridge, please
visit www.broadridge.com.
Investors:
W. Edings Thibault
Head of Investor Relations
Broadridge Financial Solutions
+1 516-472-5129
edings.thibault@broadridge.com
Media:
Tina
Wadhwa
Broadridge Financial Solutions
+1
212-973-6164
tina.wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.