In response to market demand, Broadridge has extended its business process outsourcing (BPO) services beyond securities processing functions and, in order to offer greater flexibility to global financial institutions, now enables firms to use their technology of choice while taking advantage of Broadridge's BPO solutions. Broadridge's expanded BPO services now include the performance of the back-office, middle-office, corporate and finance functions of global financial services firms. These solutions are differentiated by Broadridge's global subject matter expertise and financial services industry experience. Broadridge also continues to provide BPO solutions to its clients in connection with its own proprietary securities processing platform.
"Broadridge's BPO solutions are flexible and completely customizable for our clients' needs. Any financial services firm can now benefit from Broadridge's significant subject matter expertise and proven track record in the financial services industry," explained Joseph Barra, President, SPS International and Global Outsourcing Solutions, Broadridge.
The back-office functions supported by Broadridge include securities clearance and settlement, corporate actions, tax reporting, mutual funds, and other books and records processing. The middle-office functions supported by Broadridge include account opening and maintenance, and account and asset transfers. Corporate and finance functions supported by Broadridge include traditional accounting processes such as accounts payable and management reporting and also treasury, risk, compliance and regulatory reporting.
"Broadridge's BPO solutions allow financial services firms to leverage Broadridge's economies of scale and its on- and off-shore processing resources, regardless of the technology platform a firm prefers," Mr. Barra added. "Our metric-driven, scalable BPO solutions offer continuous process improvement and security, enabling clients to reduce fixed costs and infrastructure risk. Clients will also be able to focus more on accelerating growth in their existing businesses and entering new markets, asset classes, lines of business and geographies," he concluded.
Broadridge, with more than 40 years of experience in providing technology and outsourcing solutions to the global financial services industry, was ranked #1 Brokerage Process Services Outsourcing Provider by The Black Book of Outsourcing, an annual report published by Orbys, a Datamonitor company, for the third consecutive year.