Global tier-1 investment bank utilizing cloud-based automated processing solution to address end-to-end asset servicing complexities.
LONDON and NEW YORK – September 24, 2019 – Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, today announced that its Global Asset Servicing Solution is now available on Amazon Web Services, Inc. (AWS) and that a global tier-1 investment bank is in live operation with the solution and another global tier-1 bank is onboarding. Replacing multiple incumbent systems with a single solution can help these companies to achieve greater levels of efficiency through standardized processes and data globally, while reducing operational risks. They can also respond more effectively to regulatory reporting requirements and client service needs, by adding increased oversight and business control.
Broadridge’s full-end-to-end solution is designed to address key industry, business and operational challenges in global asset servicing, by streamlining corporate actions, dividend and coupon processing across multiple asset classes, business lines and regions. Operating the solution on AWS can add increased operational agility, improved and faster client onboarding, quicker deployments, and enhanced security, scale, and resiliency.
“Collaborating with AWS to leverage the latest in cloud technology will address the significant challenges of inefficient processes in asset servicing and reduced ability to control costs,” said Samir Pandiri, President of Broadridge International. “This is another example of delivering real business value through leading technology-driven solutions that set the standard for the financial services industry.”
“Asset Servicing is a vital component of the daily operations of banks and broker-dealers,” said Scott Mullins, Head of Worldwide Financial Services Business Development at Amazon Web Services, Inc. “By using AWS to power its industry-leading Global Asset Servicing Solution, Broadridge is providing its clients with increased operational effectiveness, resiliency and scalability, while providing the ability to effectively control costs.”
The Broadridge Global Asset Servicing Solution offers a unified global platform across geographies and business units. Users can view, manage and report across portfolios, events and global trading models, bringing increased visibility and transparency across the entire asset servicing lifecycle. The solution is designed to enhance front office activities by helping traders and portfolio managers mitigate risk of loss and pursue revenue generation, for example, through arbitrage opportunities.
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