Broadridge has announced the integration of several asset servicing functions into a single, real-time, multi-currency platform across capital markets, wealth management, asset management, and global custody.
The global fintech leader stressed that the move is a ground-breaking innovation set to transform traditionally fragmented activities and extends well beyond existing industry asset servicing solutions to include tax and performance reporting, cost basis, proxy, class actions, reclaims and a truly global custody platform.
According to the company, the streamlined solution enhances automation, drives straight-through processing benefits, leverages a common data ontology to optimize AI utilization and improves operational accuracy, speed and risk mitigation.
Broadridge claims that its new modular platform will help redefine the financial industry’s conventional approach to asset servicing (the range of administrative and operational functions that support the management and maintenance of investment assets).
Broadridge Global Asset Servicing: “A major shift in asset servicing”
Michael Alexander, President of Wealth Management at Broadridge, said: “Broadridge’s new unified platform represents a major shift in asset servicing. Changes like the transition to T+1 and eventual T+0 settlement cycles and the rise of AI strategies are driving the demand for real-time, standardized data and streamlined, end-to-end operations. Companies have long struggled with challenges such as high costs, delays in processing, risk evaluation, data reconciliation and sub-par service levels. With our trusted expertise and transformative technology, we are uniquely positioned to create a single, best-in-class solution that addresses these issues head-on and can help our clients operate more efficiently in an increasingly digital and data-driven environment.”
Broadridge Global Asset Servicing combines over 18 components to deliver unprecedented functionality and a “single gateway” data integration approach.
The solution streamlines the management and maintenance of financial assets, facilitating their safekeeping, accurate transaction processing, and compliance with regulations.
Broadridge Global Asset Servicing features:
- Modular design to seamlessly support onboarding and the overall experience.
- Ability for institutions to consolidate and reconcile data more efficiently across the entire business, eliminating friction and minimizing financial and reputational risk.
- Simplified tech stack to help users realize straight-through processing across the asset servicing ecosphere.
- Consolidated, real-time data supports advanced, generative artificial intelligence to provide predictive and operational analytics, driving efficiency and real-time decision making.
- The platform is powered by real-time advisor and customer event notifications with a full omnichannel communications system that minimizes decision-making time and reduces risk. Its seamless interoperability transforms asset servicing operations, eliminates workarounds, and reduces risk. The modular design allows organizations to select the components needed today and effortlessly deploy additional capabilities as requirements evolve.
