Broadridge Acquires Securities-Based Lending Technology Rockall

Broadridge Financial Solutions has acquired Rockall, a market leading provider of securities-based lending (SBL) and collateral management solutions for wealth management firms and commercial banks, but terms of the transaction were not disclosed.

The deal will expand Broadridge’s core front-to-back office wealth capabilities with innovative SBL and collateral management technology solutions designed to help firms manage risk and optimize clients’ securities lending and financing needs.More than $3 trillion worth of collateral daily of some of the world’s top banks are being managed using Rockall’s solutions for streamlining collateral management, safeguarding against credit risk and enhancing lending. Rockall offers a cloud-based wealth lending solution, FASTNET, which automates the evaluation, monitoring and management of SBL, and an enterprise banking collateral management solution, COLLATE, which supports strategies and change levers that drive enhanced credit risk management, regulatory reporting, process simplification, and capital efficiency.

Michael Alexander, head of North American Wealth and Capital Markets Solutions for Broadridge
Michael Alexander

Michael Alexander, head of North American Wealth and Capital Markets Solutions for Broadridge, said: “The acquisition of Rockall is the most recent example of Broadridge growing our wealth franchise by expanding our core wealth offering for clients. Securities-based lending and collateral management are key industry areas in need of innovation, and we look forward to leveraging next-generation technology to provide proven solutions to clients while mutualizing key front-, middle- and back-office functions.”

Richard Bryce, Chief Executive Officer of Rockall
Richard Bryce

Richard Bryce, Chief Executive Officer of Rockall, commented: “We are excited to have our innovative SBL and collateral management technology solutions be a part of Broadridge’s wealth management offerings, serving an even greater number of clients. Broadridge is a leader in the wealth management industry and its size and scale accelerates our ability to meet the increasing demand from advisors and investors.”

Wealth management firms are increasingly relying on securities-based lending to improve revenues and enhance retention of both advisors and investors. Most SBL services are still dependent on manual processes and a cumbersome infrastructure, thus slowing down the lending decision process and hindering risk management. Rockall allows wealth managers to automate, scale, and optimize this specific business operation.