Average straight-through processing rate of 99.9%
NEW
YORK, LONDON, FRANKFURT and HAMBURG, Germany, Sept. 21,
2022 /PRNewswire/ -- Hamburg Commercial Bank (HCOB)
has successfully completed the transformation of its SEPA (Single
Euro Payments Area) payments business to a cloud-based,
next-generation platform run by leading global Fintech provider
Broadridge Financial Solutions, Inc. (NYSE:BR). The transition was
made to Broadridge's Payments as a Service and BPO operation that
uses PPI AG's advanced payments technology. This latest move
follows the earlier transition of HCOB's high-value TARGET and
international SWIFT payments that migrated to the Broadridge
service in July 2021.
![Broadridge Logo. (PRNewsFoto/Broadridge Financial Solutions) Broadridge Logo. (PRNewsFoto/Broadridge Financial Solutions)](https://mma.prnewswire.com/media/326728/broadridge_financial_solutions.jpg)
"With the successful and timely completion of this second and
final phase of our payments migration to Broadridge's SWIFT and
SEPA platform, this important milestone of our transformation has
now also been accomplished," said Stefan
Ermisch, CEO of Hamburg Commercial Bank. "Our customers
across the European region will benefit from HCOB's cloud-based,
reliable technology and excellent service."
"I continue to be highly impressed by the professionalism and
close collaboration between all teams – the bank, Broadridge and
PPI – to deliver a seamless workflow across all of our payment
processing channels, based on a scalable technology platform and
outsourcing service," added Daniel
Roth, Head of Strategy & Transformation at HCOB.
As a result of the implementation, which was completed in less
than 12 months, HCOB's SEPA operation now benefits from a
transformational level of operational efficiency and resilience,
with an average straight-through processing rate of over 99.9%
during the first two months of production. The bank is benefiting
from this environment requiring very limited manual intervention
and a fast-track, proactive response to resolving exceptions. As
part of implementing the new payments platforms, the bank also
introduced new EBICS access capability and a new web-based
electronic banking channel for all its commercial clients.
"Increasingly, banks are looking to mutualise their core
payments operations and capitalise on the advances in modern
technology to improve cost/income ratios, grow their customer base
and avoid the pitfalls of legacy technology," said Samir Pandiri, President of Broadridge
International. "Together with PPI, it is a privilege to support
HCOB in realising its future state vision."
"Building on the success of our first phase which delivered the
Hamburg Commercial Bank's global SWIFT payments platform, we are
empowering the bank and its customers with a new, modern
componentised solution that leverages the latest technologies,"
said Dr. Thorsten Völkel, CEO, PPI AG.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with $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 that drive business
transformation for 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. Our
technology and operations platforms underpin the daily trading of
more than U.S. $9 trillion of
equities, fixed income, and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P
500® Index, employing over 14,000 associates in 21
countries.
About Hamburg Commercial
Bank
Hamburg Commercial Bank AG (HCOB) is a private commercial bank
headquartered in Hamburg. HCOB
offers its 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 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 need of the bank's customers.
HCOB is aligning its activities with established ESG criteria and
has anchored sustainability aspects in its business model.
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@broadridge.com
Media:
Gregg
Rosenberg
Corporate Communications, Broadridge
+1 212-918-6966
Gregg.Rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.