Broadridge Financial Solutions, Inc. (NYSE:BR) announced today that Kimberly-Clark Corporation (NYSE:KMB) has selected Broadridge to be its global service provider for international banking communications across the SWIFT financial messaging network. According to the agreement K-C, known globally for its trusted brand-name products such as Kleenex and Scott, will become the latest industry-leading corporation to leverage Broadridge’s services to reduce costs and manual processes associated with supporting diverse bank payment infrastructures.
In today’s increasingly global marketplace, leading corporations are looking for ways to maintain a competitive edge and achieve efficiency gains, while driving down costs. Global companies interact with a wide range of financial institutions to support their business and while this diversification is necessary and beneficial, it can also create redundant processes in treasury operations.
Broadridge’s SWIFT service provides two-way automated messaging between K-C’s business entities and its financial counterparties for the full SWIFT library – including payments, confirmations, trade initiation, securities, treasury, statements and other key business functions. Users without existing knowledge of SWIFT formats can input any type of message, which is then automatically transformed into the appropriate SWIFT format.
By joining SWIFT through the Broadridge service, it enables K-C to standardize its operational processes worldwide, leading to increased efficiency from a consistent, highly-automated and secure service. Additional benefits include:
- Advanced workflows enable K-C to monitor the full lifecycle of their messages via an up-to-date browser and create, release and re-route messages in a controlled STP environment
- Rapid access to the SWIFT network for complete messaging capabilities
- A secure and standardized data environment
- Cost savings through a global messaging solution
According to Jay Pila, SVP and General Manager of Americas, Securities Processing Solutions International, Broadridge, “I am thrilled to welcome Kimberly-Clark to our SWIFT service. Its global operations naturally generate a complex requirement, and therefore a tremendous opportunity in how to best architect its SWIFT message flows. Through our team’s highly-skilled domain experts across Asia, Europe and the Americas – together with our software solutions – Broadridge has a proven track record of successfully enabling companies like Kimberly-Clark with the ability to benefit from well-practiced, low-risk conversion methodologies and optimized process management for SWIFT deployment. We look forward to a long-term and highly-effective relationship.”