NEW YORK and LONDON, April 26,
2021 /PRNewswire/ -- Broadridge Financial Solutions,
Inc. (NYSE: BR), a global Fintech leader, and FundApps, a
global RegTech provider, announced the integration of FundApps'
regulatory compliance technology with Broadridge's buy-side
portfolio and order management solution. Broadridge's clients will
benefit from a unique regulatory compliance solution that addresses
managers' needs across shareholder disclosures, sensitive industry
monitoring and position limit reporting, removing operational
challenges in their search for alpha.
One Broadridge and FundApps client is BennBridge, a
multi-boutique investment firm that strategically partners with
fund managers. "We deal across multiple global equity markets and,
as a result, are continually faced with changes to regulatory
compliance requirements that can create complex challenges. By
using the FundApps solution, integrated with Broadridge's portfolio
and order management system, we are able to automate many facets of
our substantial shareholding disclosure process," said Ben Battye, Head of Operations, BennBridge.
"This allows us to focus our time on other critical parts of the
business."
"Through our work with FundApps, we're incorporating integrated,
automated solutions that will remove operational challenges for our
clients," said Eric Bernstein,
Broadridge's President of Asset Management Solutions. "The global
regulatory landscape has become increasingly more complex over the
past several years, and as firms expand into new geographies,
managers need to prove their strict adherence to those regulatory
requirements. This strategic partnership allows firms to spend less
time on operational and compliance issues and more time on managing
assets and outperforming the competition."
"There is an increasing amount of regulatory fragmentation
between local jurisdictions. This, coupled with the effects of a
global pandemic, means there has been a lot of volatility with
reporting thresholds as we move from crisis to recovery," says
Andrew White, CEO at FundApps.
"Regulation is not a unique problem for firms, so it only makes
sense that they pool resources to invest in technology that
automates it for them. Think of it as herd immunity - the more
compliant each participant is, the less likely they are to spread
risk through the community, achieving a level of protection that
individual measures can't reach on their own."
Broadridge's portfolio and order management solution offers an
integrated approach to modeling and executing trades and tracking
portfolios in real-time, and helps firms ensure their compliance
and operations are up to date. Global hedge fund and asset
management clients utilize Broadridge's automated processes to
improve data quality and manage compliance requirements, allowing
them to focus on earning returns for clients. Now they will benefit
from FundApps' compliance-as-a-service solution that automates
compliance monitoring and reporting.
The combined capabilities will provide clients the ability to
leverage a fully automated interface that will support the daily
updating of client holdings in the FundApps system, and maintain a
complete and up-to-date global database of companies and regulatory
rules. The enhanced platform offers solutions to clients seeking to
avoid fines and reputational damage, reduce reporting time, retire
legacy software and prove their adherence to regulatory
requirements.
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.
About FundApps
Since 2010, FundApps has been committed
to making compliance simple. With a vast rule library and a
dedicated in-house legal and regulatory team, FundApps enables
compliance teams to respond more efficiently to regulatory change,
increase certainty and reduce complexity in the compliance
process.
With offices in London,
New York and Singapore, the company monitors over U.S.
$13 trillion in client assets with
1000+ users from compliance teams at asset managers, hedge funds,
pension funds, sovereign wealth funds and banks around the
world.
Media Contacts:
Broadridge US
Matthew Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com
Broadridge EMEA
Hannah Polson
Cognito
+44 (0) 7974244217
BroadridgeEMEA@cognitomedia.com
FundApps
Ellie Smith
+44 (0)20 7242 8867
Ellie.Smith@aspectusgroup.com
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SOURCE Broadridge Financial Solutions, Inc.