Broadridge Financial Solutions has announced an agreement with IBM Services to bring new cloud-based solutions to clients in the financial services industry by creating the Broadridge Private Cloud.
Broadridge will transition a significant portion of its global infrastructure to IBM and will be able to improve speed to market, flexibility, and resiliency. The shift to a hybrid cloud model will enable Broadridge to further transform the financial services industry as it leverages IBM’s open-source capabilities and adds new capabilities to its market-leading solutions. Broadridge will implement the Red Hat OpenShift platform, the industry’s most comprehensive Kubernetes platform, to manage workloads across its overall hybrid cloud infrastructure.
Mark Schlesinger, Broadridge’s Chief Information Officer, said: “The Broadridge Private Cloud powered by IBM, will increase our ability to more rapidly deliver next-gen and mission-critical solutions to our clients around the world. Accelerating our cloud strategy will enable clients to leverage an industry-leading, highly flexible and resilient technology platform and allow Broadridge to accelerate our product roadmap, providing our clients with faster access to new industry solutions incorporating the ABCDs of InnovationTM (AI, Blockchain, Cloud, Digital),” Mr. Schlesinger added.
Rodrigo Kede Lima, General Manager, IBM Global Technology Services, commented: “We look forward to bringing the power of IBM’s hybrid cloud capabilities and financial services industry experience to Broadridge’s mission-critical infrastructure that powers the global financial markets. The Broadridge Private Cloud, along with the world’s first financial services-ready public cloud, recently launched by IBM, showcases how IBM is working with key clients all over the world to address critical requirements of financial services institutions with regulatory compliance, security, and resiliency.”
IBM and Broadridge Financial signed this multi-year agreement in IBM’s fourth quarter of 2019. IBM’s deep financial services industry experience will generate long term value to Broadridge and its clients as Broadridge’s infrastructure is modernized to provide automated private cloud services for its critical workloads.
Late last year, Broadridge launched a new artificial intelligence (AI) and machine learning (ML) management platform built to be deployed across industry-wide reconciliation, matching and exception management applications. The product is the result of a partnership with Singapore headquartered Tookitaki, whose AI and ML technology addresses industry-wide reconciliation, matching, and exception processing inefficiencies. Broadridge Data Control Intelligent Automation allows customers to license modules on the platform for multiple Intelligent Automation applications with the initial two modules being Break Management and Recon Perform.
