NEW YORK, Oct. 5, 2020 /PRNewswire/
-- Broadridge Financial Solutions,
Inc. (NYSE:BR), a global Fintech leader, has announced a
collaboration with PPI AG, the Hamburg,
Germany-based payments consultancy and supplier, to launch a
joint payments initiative for banks and financial institutions in
Europe. Many banks are currently
facing major challenges in payments processing, driven by recent
and ongoing market changes, such as the implementation of PSD2,
SEPA ISO migration, TARGET2 and
SWIFT ISO20022 migration, while also responding to national
payments infrastructure changes and the emergence of new protocols,
such as EBICS. There is also increasing market demand for Request
to Pay and SEPA IP via TIPS, which
are on the horizon although not yet mandatory.
To remain agile and competitive, it is important that banks and
financial institutions use the latest technology and expertise,
instead of continuing to invest in proprietary payments
infrastructure and operations. Specialized payments providers are
better suited to manage the latest technology development and
support operations.
"Banks and financial institutions are weighed down by legacy
systems supported by a diminishing technology resource pool and
need to dramatically reduce their cost/income ratios, all while
providing high-quality service for their customers and responding
to the velocity of change," said Andreas Günther, Managing Director
of Data Control Solutions for Broadridge in Germany. "Our collaboration with PPI AG
creates a timely answer to this with Payments-as-a-Service
providing a specialized payments solution that can help banks meet
their current needs and challenges and get ready for what's
next."
This new solution has already secured its first customer, a
Europe-headquartered commercial
bank active in corporate and private banking. Banks are
increasingly seeking a mutualized, shared services approach to
advance their core payments platform technology and operations;
something that previously may have seemed out of reach is now a
viable option.
"We are genuinely thrilled to be collaborating with Broadridge
again," said Dr. Thorsten Völkel, CEO of PPI AG.
"Payments-as-a-Service can be offered fully or partially for a
range of service and solution options, as we know there are
different levels of needs across the industry. Our payments
platform combines all payment types into a hybrid solution,
allowing us to leverage the economies of scale for commodity
payment types while still being able to preserve the individuality
of banks' core offerings in international payments. Working with
Broadridge enables us to offer banks a leading technology and
operations capability, backed by a deep pool of highly experienced
payments experts."
Payments-as-a-Service is a modern, hosted payments platform with
connectivity to critical payments infrastructures, together with
managed services and support by deeply knowledgeable payments
specialists. The offering includes core payments processing, a
dynamic customer channel and Interbank/CSM connectivity.
Surrounding the core payments platform, the service offers
Anti-Money Laundering and sanctions screening, intelligent
reconciliation, transaction monitoring and exception
management.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4
billion global Fintech leader, is a leading provider of
investor communications and technology-driven solutions to banks,
broker-dealers, asset and wealth managers and corporate issuers.
Broadridge's infrastructure underpins proxy voting services for
over 50 percent of public companies and mutual funds globally, and
processes on average more than U.S. $8 trillion in fixed income and equity
securities trades per day. Broadridge is part of the S&P 500®
Index and employs over 12,000 associates in 17 countries.
For more information about Broadridge, please
visit www.broadridge.com
About PPI AG
PPI specialises in payments software and consulting and is the
market leader for EBICS and FinTS solutions. PPI's products cover
the complete payments process chain for banks, from
customer-to-bank communication through the core processing of
payments up to the interbank communication - end-to-end from a
single provider. The consulting portfolio comprises topics ranging
from strategic matters as well as banking-related aspects up to
payments-related IT consulting. PPI advises their customers on
various fields, such as operational excellence, regulation (e.g.,
PSD II), instant payments, SEPA, and individual-, bulk- and
card-based payments.
For more information about PPI AG, please visit
www.ppi.de/en/payments/
Investors:
W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com
Media:
North America
Tina
Wadhwa
Broadridge Financial Solutions
+1
212-973-6164
tina.wadhwa@broadridge.com
Europe
Hannah Polson
Cognito
+44 (0) 20 7426 9402
BroadridgeEMEA@cognitomedia.com
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SOURCE Broadridge Financial Solutions, Inc.