NEW
YORK and LONDON and
TOKYO, Oct. 15,
2024 /PRNewswire/ -- In response to the increased
sophistication and prevalence of cyber threats, and board mandates
on operational resilience, Broadridge Financial Solutions, Inc.
(NYSE: BR) has launched a range of enhanced services and solution
capabilities for international post-trade processing. These
capabilities enable firms to comply with the European Union's
Digital Operational Resilience Act (DORA) and other global
regulations requiring a heightened level of operational resilience
and are available to banks and brokers that currently use
Broadridge's leading International Post-Trade processing solution,
as well as to the wider industry to augment their inhouse or vendor
systems and operational teams.
"The DORA compliance deadline is just three months away and the
clock is ticking. Non-compliance will expose financial firms to an
increased risk of cyber incidents, security breaches and system
outages, as well as the potential for reputational damage and
avoidable regulatory penalties," said Danny
Green, Head of International Post-Trade Solutions,
Broadridge. "It is vital that firms are advancing their plans
for the timely completion of both inhouse and third-party system
reviews, and that they have a robust strategy to meet their
prescribed recovery time objectives (RTOs) for their operating
model."
Broadridge's operational resilience services and solutions for
international post-trade processing enable firms to mutualize the
cost of ensuring business continuity in the face of growing
cyber-attacks, and of complying with DORA and other international
operational resilience mandates through a shared services pricing
model that includes:
- Deeply knowledgeable professional
services: Specialized expertise and advanced analytical
tools to assess and validate firms' risk and control frameworks
relating to internal and third-party systems and service provider
data. It includes thorough evaluations of current frameworks to
identify potential vulnerabilities, validation of risk controls and
recommendations for enhancing the robustness and efficiency of
operational risk management practices.
- High-availability recovery: The provision of
back-up environments that are the regulatory-prescribed distance
away from a firm's primary site, and that meet recovery time
objectives within the required timeframe and to the required
standard in the event of a cyber-attack or outage.
Broadridge's enhanced solution can reduce recovery times from hours
to minutes.
- Enhanced recovery of entire system infrastructure: An
enhanced cyber-recovery capability that can prevent the compromise
of critical data assets in as robust a manner as possible. By
deploying secure, immutable storage, Broadridge can support
unalterable, point-in-time copies of a firm's international
post-trade infrastructure including the operating system,
post-trade software and critical data. In the event of a cyber
incident, these secure, cyber-resilient copies can be swiftly
restored to enable faster and easier system recovery.
About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology
leader with the trusted expertise and transformative technology to
help clients and the financial services industry operate, innovate,
and grow. We power investing, governance, and communications for
our clients – driving operational resiliency, elevating business
performance, and transforming investor experiences.
Our technology and operations platforms process and generate
over 7 billion communications per year and underpin the daily
trading of more than $10 trillion of
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. For more information about us, please visit
www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg
Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.