Broadridge partners with AccessFintech
23 March 2021 US
Image: oatawa/adobe.stock.com
Broadridge, a global Fintech leader, has partnered with AccessFintech to deliver a new strategic gateway for settlement workflow that offers efficiencies in resolving multi-party settlement fails.
The solution is powered by Broadridge鈥檚 post-trade platforms and data, and incorporates AccessFintech鈥檚 cloud-based operations workflow model.
As a result, banks, broker-dealers, prime brokerages and custodians can achieve transformational benefits that include cost savings and reduction of operational risk.
Broadridge says further benefits include expedited resolution of settlement fails, and a 鈥渟eamless experience for their buy side clients鈥�.
In the current market environment, the process of resolving settlement failures is manual, which Broadridge explains leads to greater operational risk, inefficiency, a challenging user experience, and regulatory non-compliance under the Central 网爆吃瓜 Depository Regulation (CSDR) requirements expected by February 2022.
By enabling a global network of participants to easily share data with multiple counterparties on one platform, Broadridge says the Strategic Gateway for Settlement Workflow ensures high-quality and consistent data, seamless onboarding, and transforms clients鈥� ability to compare data automatically and resolve settlement exceptions efficiently.
According to Vijay Mayadas, president of capital markets at Broadridge, the volatility in the securities market over the past year highlighted the industry鈥檚 need for a more efficient settlement process that promotes market liquidity.
Mayadas explains Broadridge鈥檚 partnership with AccessFintech aims to bridge operational gaps that currently exist in multi-party exception management with a collaborative approach, providing the sell-side with consistent, quality data and an automated workflow.
鈥淥ur latest investment demonstrates Broadridge鈥檚 continued commitment to driving efficiency across the industry through an enhanced post-trade processing experience and simplified technology, including a consistent application programming interface framework,鈥� comments Mayadas.
Roy Saadon, CEO of AccessFintech, adds: 鈥淲e are excited to partner with Broadridge, as we believe clients of both firms will benefit from a much-improved experience in multi-party workflow management and exception resolution. Further, we look forward to working together on other new solutions to create a more powerful and innovative ecosystem for the market.鈥�
The solution is powered by Broadridge鈥檚 post-trade platforms and data, and incorporates AccessFintech鈥檚 cloud-based operations workflow model.
As a result, banks, broker-dealers, prime brokerages and custodians can achieve transformational benefits that include cost savings and reduction of operational risk.
Broadridge says further benefits include expedited resolution of settlement fails, and a 鈥渟eamless experience for their buy side clients鈥�.
In the current market environment, the process of resolving settlement failures is manual, which Broadridge explains leads to greater operational risk, inefficiency, a challenging user experience, and regulatory non-compliance under the Central 网爆吃瓜 Depository Regulation (CSDR) requirements expected by February 2022.
By enabling a global network of participants to easily share data with multiple counterparties on one platform, Broadridge says the Strategic Gateway for Settlement Workflow ensures high-quality and consistent data, seamless onboarding, and transforms clients鈥� ability to compare data automatically and resolve settlement exceptions efficiently.
According to Vijay Mayadas, president of capital markets at Broadridge, the volatility in the securities market over the past year highlighted the industry鈥檚 need for a more efficient settlement process that promotes market liquidity.
Mayadas explains Broadridge鈥檚 partnership with AccessFintech aims to bridge operational gaps that currently exist in multi-party exception management with a collaborative approach, providing the sell-side with consistent, quality data and an automated workflow.
鈥淥ur latest investment demonstrates Broadridge鈥檚 continued commitment to driving efficiency across the industry through an enhanced post-trade processing experience and simplified technology, including a consistent application programming interface framework,鈥� comments Mayadas.
Roy Saadon, CEO of AccessFintech, adds: 鈥淲e are excited to partner with Broadridge, as we believe clients of both firms will benefit from a much-improved experience in multi-party workflow management and exception resolution. Further, we look forward to working together on other new solutions to create a more powerful and innovative ecosystem for the market.鈥�
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