NEW YORK, March 23, 2021 /PRNewswire/
-- Broadridge Financial Solutions, Inc. (NYSE:BR), a
global Fintech leader, has partnered with AccessFintech to deliver
a new Strategic Gateway for Settlement Workflow that offers
efficiencies in resolving multi-party settlement fails. The
solution is powered by Broadridge's industry-leading post-trade
platforms and data, and incorporates AccessFintech's cloud-based
operations workflow model. As a result, banks, broker-dealers,
prime brokerages and custodians can achieve transformational
benefits that include cost savings, reduction of operational risk,
expedited resolution of settlement fails, and a seamless experience
for their buyside clients.
"The volatility in the securities market over the past year
highlighted the industry's need for a more efficient settlement
process that promotes market liquidity," said Vijay Mayadas,
President of Capital Markets at Broadridge. "Broadridge's
partnership with AccessFintech aims to bridge operational gaps that
currently exist in multi-party exception management with a
collaborative approach, providing the sell-side with consistent,
quality data and an automated workflow. Our latest investment
demonstrates Broadridge's continued commitment to driving
efficiency across the industry through an enhanced post-trade
processing experience and simplified technology, including a
consistent API framework."
In the current market environment, the process of resolving
settlement failures is manual, involving offline and time-consuming
channels such as email, phone calls and chats between multiple
counterparties. This leads to greater operational risk,
inefficiency, a challenging user experience, and regulatory
non-compliance under the Central Securities Depository Regulation
(CSDR) requirements expected by February 2022. By enabling a
global network of participants to easily share data with multiple
counterparties on one platform, the Strategic Gateway for
Settlement Workflow ensures high-quality and consistent data,
seamless onboarding, and transforms clients' ability to compare
data automatically and resolve settlement exceptions
efficiently.
"In today's banking environment, clients demand inventive yet
robust solutions that can help reduce their costs and eliminate
excessive complexity," said Roy
Saadon, CEO of AccessFintech. "We are excited to partner
with Broadridge, as we believe clients of both firms will benefit
from a much-improved experience in multi-party workflow management
and exception resolution. Further, we look forward to working
together on other new solutions to create a more powerful and
innovative ecosystem for the market."
About AccessFintech
AccessFintech uses technology to evolve the financial industry
operating model. Its aim is to transform the model to drive
control, transparency, efficiency and collaboration across the
whole financial ecosystem. The company has a self-service
ethos, where risk is mutualized, and there is better, more
enlightened decision-making across organizations and functions. It
was founded in 2015 by a team of financial industry veterans with
proven experience, creativity and expertise in driving efficiency
and solving problems in the context of the global capital markets.
AccessFintech has created and operates a unique network of
financial industry participants, sharing data and collaborating on
exception resolution of trades. The technology is designed in such
a way that clients can quickly and easily adopt the service without
significant resource allocation, enabling firms to control their
risk management practices while increasing the number of services
consumed. For further information, please go to
AccessFintech.com or follow us on LinkedIn or
Twitter.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with over $4.5 billion in
revenues, provides the critical infrastructure that powers
investing, corporate governance and communications to enable better
financial lives. We deliver technology-driven solutions to banks,
broker-dealers, asset and wealth managers and public companies.
Broadridge's infrastructure serves as a global communications hub
enabling corporate governance by linking thousands of public
companies and mutual funds to tens of millions of individual and
institutional investors around the world. In addition, Broadridge's
technology and operations platforms underpin the daily trading of
on average more than U.S. $10
trillion of equities, fixed income and other securities
globally. A certified Great Place to Work®, Broadridge
is a part of the S&P 500® Index, employing over
12,000 associates in 17 countries. For more information about us
and what we can do for you, please
visit www.broadridge.com.
Investors
W. Edings Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@Broadridge.com
Media
Tina Wadhwa
Corporate Communications, Broadridge
+1 212-973-6164
Tina.wadhwa@broadridge.com
Serra Balls
Eterna Partners
Public Relations, AccessFintech
+44 20 3911 0353
serra.balls@eternapartners.com
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SOURCE Broadridge Financial Solutions, Inc.