NEW YORK, LONDON and FRANKFURT, Germany, Sept. 7,
2021 /PRNewswire/ -- Broadridge Financial Solutions,
Inc. (NYSE:BR), a global Fintech leader, today announced that
Hamburg Commercial Bank is now live using Broadridge's Payments as
a Service – a cloud-based new-generation platform and BPO operation
– to transform the bank's international payments (including
TARGET2) processing for corporate clients based on PPI AG´s market
leading payments platform.
Broadridge's Payments as a Service will enable the bank to
achieve significantly higher levels of operational efficiency
through best-in-class straight-through processing and the dynamic
resolution of processing exceptions. It will also provide the
scalability to grow, capture new revenue streams and enhance the
quality and range of client services without capacity or resource
constraints. Hamburg Commercial Bank will also benefit from a more
agile response to the ongoing challenges in payments driven by
regulatory and dynamic market changes. The operating platform
already includes necessary TARGET2 MX and SWIFT MX enhancements,
while subsequent phases of the project will add a service for
SEPA payments and SEPA instant payments.
"This payment service solution is another important contribution
to our transformation, and it will make Hamburg Commercial Bank
even more efficient. Our customers will benefit from this
best-in-class technology platform, which our strong business
operations team, together with Broadridge and PPI, will continue to
build out over the coming months," said Stefan Ermisch, CEO of Hamburg Commercial
Bank.
"We are very pleased with the initial production phase, which
was completed in the time scheduled, and we are confident that the
other production phases ahead will also be successfully
implemented. We look forward to continued good collaboration and a
long-term partnership with Broadridge and PPI," added Daniel Roth, Head of Strategy &
Transformation at Hamburg Commercial Bank.
Broadridge Payments as a Service is an advanced new service in
partnership with PPI AG to drive transformational advantages for
banks and financial organisations operating in the European
payments industry, enabling them to overcome major processing
challenges driven by recent and ongoing market changes, and deliver
world class service standards. Uniquely designed for the future of
the payments industry, it combines PPI's extendable, modern, core
payments processing platform and Broadridge's best-in-class
messaging and transformation service. The platform is hosted in
Broadridge's European data centre and is available on a shared
services basis, backed by advanced quality standards including
SLAs, security/resilience, capacity and agility, together
with deeply knowledgeable payments and technology specialists.
Broadridge's experienced BPO team handles exceptions and customer
enquiries, supported by purpose-built ticketing and customer
service applications and meeting the highest service standards.
"To address client processing requirements and support the
industry with the evolving regulatory and market infrastructure
landscape, we have made a significant investment in building out
our payments architecture and operating model," said Samir Pandiri, President, Broadridge
International. "We believe there are several hundred banks in
Europe that can take advantage of
this unique, modern and differentiated service to increase
automation, reduce cost and risk, and manage regulatory
change."
"This is an incredibly well-executed programme delivered within
a 12-month period," said Dr. Thorsten Völkel, CEO of PPI AG.
"Through strong partnership across the three parties, we have
delivered a significant phase that will bring tangible benefits
through greater processing efficiency and risk mitigation, scalable
client-centric services and support for a fast-track response to
forthcoming change 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. $9 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 13,000 associates in 21 countries. For more
information about us and what we can do for you, please visit
www.broadridge.com.
About Hamburg Commercial Bank (HCOB)
Hamburg
Commercial Bank AG is a private commercial bank and specialist
financier headquartered in Hamburg. HCOB offers its commercial clients a
high level of structuring expertise in real estate financing with a
focus on Germany and has a strong
market position in international shipping. The bank is one of the
pioneers in the pan-European project financing of renewable
energies and is also involved in the expansion of digital
infrastructure. HCOB offers individual solutions for international
corporate clients and specialty lending as well as a focused
corporate business in Germany.
Digital products for reliable and timely domestic and international
payments as well as other trade finance solutions also support the
needs of the bank's customers. HCOB is increasingly aligning its
activities with established ESG criteria and has anchored
sustainability aspects in its business model.
Investors:
W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com
Media:
Gregg
Rosenberg
Corporate Communications
+1 212-918-6966
Gregg.rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.