Fintech

Broadridge Introduces BRx Match to Revolutionize Reconciliation

Broadridge Unveils BRx Match to Revolutionize Reconciliation
  • Broadridge launches BRx Match, a cloud-based reconciliation and matching platform to empower business users to streamline complex reconciliation processes and enhance data integrity.

  • BRx Match offers self-build capabilities for business users, enabling faster onboarding of new reconciliations, reducing total ownership costs, and enhancing operational responsiveness.

  • This innovation represents a significant milestone in Broadridge's commitment to delivering cutting-edge fintech solutions that address real-world challenges and optimize reconciliation operations while maintaining data integrity.

Broadridge Financial Solutions, a global leader in fintech, has unveiled a game-changing solution to tackle reconciliation and data integrity challenges. The company has introduced BRx Match, a comprehensive cloud-based reconciliation and matching platform designed to empower business users with the tools to streamline complex reconciliation processes.

Alastair McGill, General Manager of Data Control Solutions, Broadridge, shared,

As global regulatory requirements become more complex and increasing transaction volumes demand greater operational efficiency as well as risk management, BRx Match allows financial and corporate clients to automate the reconciliation of any data sources and expedite the exception management process.

[Source – Cision PR Newswire]

With its business-user self-build capabilities, the platform would speed up onboarding new reconciliations, reducing total ownership costs and developing a more responsive operation. Alastair added that BRx Match represented the latest instance of Broadridge's commitment to streamlining the front-to-back environment for its clients by simplifying data integration.

This launch of the new solution represents a significant milestone in Broadridge's commitment to providing cutting-edge fintech solutions that address real-world challenges faced by businesses across the globe. BRx Match enhances operational efficiency and ensures higher transparency and accuracy by automating the reconciliation process from its inception, making BRx Match a strategic asset for enterprises seeking to optimize their reconciliation operations while maintaining integrity.

The introduction of BRx Match marks a notable departure from traditional reconciliation solutions that have struggled to meet the ever-evolving demands of the modern business landscape. In the past, businesses faced a daunting challenge when attempting to consolidate and coordinate reconciliation efforts across diverse data sources and models. BRx Match is an industry pioneer in offering a holistic data acquisition and transformation approach. It provides a set of fundamental matching rules that cater to a wide array of common reconciliation needs. With its versatility, businesses can harness a range of matching engines to attain optimal results, granting them unprecedented control and adaptability in their reconciliation tasks.

Data agnosticism is a unique feature of BRx Match. It enables users to seamlessly reconcile across various data types, from securities and cash to derivatives, reference data, card services, financial, and insurance data. This platform delivers a unified and consistent user experience throughout the enterprise. It places the power of reconciliation firmly in the hands of business users, allowing them to design, build, test, modify, and deploy their reconciliation processes with ease.

Spotlight

Tax groups have a meaningful opportunity to enhance the value of their organization’s digital transformation effort. This priority, which involves migrating tax automation to the cloud in tandem with larger enterprise resource planning (ERP) cloud migrations is becoming even more time sensitive. This white paper examines leading

Spotlight

Tax groups have a meaningful opportunity to enhance the value of their organization’s digital transformation effort. This priority, which involves migrating tax automation to the cloud in tandem with larger enterprise resource planning (ERP) cloud migrations is becoming even more time sensitive. This white paper examines leading

Related News

Core Banking

Webull partners with Dow Jones to drive greater financial literacy and empower retail investing decisions

Webull Corporation | January 30, 2024

Webull, a leading online broker for global investors, has launched an initiative to drive financial literacy, announcing its partnership with Dow Jones, a global news and business information services provider and the publisher of The Wall Street Journal (WSJ). The agreement aims to drive greater levels of financial literacy among retail investors by empowering Webull customers with curated award-winning content from The Wall Street Journal, including news, analysis, and essential insights on managing personal finances. The collaboration provides access to the publication's trusted and reliable journalism to help Webull users make better educated and informed decisions around their financial goals. Webull users will receive a curated round-up of WSJ articles on its news feed within the app. New and renewing Webull customers will also receive a WSJ subscription. "Webull was founded on the principle of democratizing investing and making it more accessible and inclusive - especially for first time investors. In this regard, we've already seen success, with a robust number of our active members being first-time investors," said Anthony Denier, Webull Group President. "Through this partnership with Dow Jones, we want to put the power of the world's leading financial publication straight into the hands of our customers with content that helps investors make better financial decisions with greater confidence." "Financial literacy, powered by trusted and credible journalism, leads to better decisions," said David Martin, Chief Revenue Officer for Business Intelligence at Dow Jones. "We are delighted to work with Webull and look forward to putting the Journal's high-quality and award-winning business news, information and analysis at the fingertips of millions of Webull users on its platform to help elevate their decision making process." Financial literacy has been identified as a key barrier to entry to investing for many people, with research from the World Economic Forum revealing that 40% of non-investors chose not to invest because they do not know how or find it too confusing. In addition, approximately 70% said they would be more likely to invest, or invest more, with expanded financial education. With the trend of retail investors skewing younger, the initiative aims to address knowledge gaps by providing access to actionable and outcome-oriented information to help educate and shape the way new and existing users navigate fast-changing markets in an informed and responsible manner. About Webull Webull is a leading digital investment platform built on next generation global infrastructure. The Webull Group is headquartered in St. Petersburg, Florida and backed by private equity investors located in the United States, Europe and Asia. Webull serves tens of millions of users from over 180 countries, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options and fractional shares, through Webull's trading platform, which is currently available in the United States, the United Kingdom, Hong Kong, Singapore, Japan, South Africa, Australia, Indonesia, Mexico, Brazil and Canada. Webull also offers investment education services, with lessons covering a wide range of topics. About Dow Jones Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world's largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America's largest newspaper by paid circulation; Barron's, MarketWatch, Mansion Global, Financial News, Investor's Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics.

Read More

Fintech

KBRA Assigns Preliminary Ratings to APL Finance 2023-1 Designated Activity Company

KBRA | December 08, 2023

KBRA assigns preliminary ratings to four series of notes issued by APL Finance 2023-1 Designated Activity Company and APL Finance 2023-1 LLC (together, Ashland 2023-1), an aviation loan ABS transaction. Ashland 2023-1 represents the inaugural aviation loan ABS transaction that is sponsored and serviced by Ashland Place Finance LLC (APL or the Company). The Company is owned by Davidson Kempner Capital Management LP (DKCM), and, together with DKCM, is comprised of over 500 individuals operating out of seven offices with headquarters in New York City. Proceeds from the Notes will be used to acquire a portfolio of 11 loan facilities (the Facilities) comprised of 26 loans (the Assets, and together with the Facilities, the Portfolio). The 11 Facilities are limited recourse facilities. As of October 31, 2023, the Portfolio has an initial aggregate loan balance of approximately $350.8 million, an average Asset balance of $13.5 million, and a weighted average remaining loan term of approximately 2.8 years. The Portfolio has a weighted average seasoning of 18 months. The Facilities are secured by 19 narrowbody aircraft (56.4%), three widebody aircraft (40.0%) and four narrowbody host aircraft engines (3.6%) (the Underlying Collateral) on lease to 12 lessees located in 11 jurisdictions. As of October 31, 2023, the Underlying Collateral has a weighted average age of 10.0 years (excluding the engines) and an initial appraised value of approximately $612.2 million based on the average of half-life base values provided by three third-party appraisers as of the second quarter of 2023. Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com. About KBRA Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Read More

Financial Management, Payments

Orange Finances Money Mali and TerraPay Forge Strategic Partnership for Seamless Cross-border Payments

TerraPay | January 09, 2024

Orange Finances Money Mali, a leading Electronic Money Establishment and subsidiary of Orange Mali, is proud to announce a groundbreaking partnership with TerraPay, a global cross-border payments network with an extensive reach. This partnership marks a significant milestone in the digital financial landscape for Mali, connecting over 12 Million Malians to the vast diaspora residing across the globe, including other African countries. Bringing together Orange Finances Money Mali's commitment to promoting financial inclusion and TerraPay's proven expertise in facilitating secure cross-border payments, this partnership is set to empower Malians with innovative and seamless financial services. Financial inclusion continues to be one of the biggest challenges across West Africa and Orange Finances Money Mali has been dedicated to bridging this gap by striving to boost accessibility and inclusion through their services. One of the key highlights of this alliance is the ease with which Orange Money Mali customers can either cash out the funds received in their wallets or directly use them for everyday needs, including bill payments, supermarket purchases, and person-to-person transfers. Orange Finances Money is dedicated to issuing, managing, and distributing electronic money under the Orange Money brand in Mali. Djeneba Tandjigora, Chief of Transfer Services and Core Business at Orange Finances Money Mali, expressed his enthusiasm about the collaboration, stating, "Orange Money Mali customers can now receive money transfers from several countries using TerraPay's global network. This strategic collaboration simplifies transactions making them quick and secure, enhances the customer experience for Orange Money users and strengthens financial inclusion in Mali." Amel Kane, Regional Sales Manager Francophone West Africa at TerraPay, views this collaboration as an opportunity to enhance the quality of service and customer satisfaction. "With a direct connection to Orange Finances Money Mali, TerraPay can ensure a seamless cross-border payment experience, reducing operational issues and providing prompt assistance to our partner's clients. This collaboration reinforces our commitment to expanding our direct rails and continually improving our service offerings," stated Amel. Combining Orange Finances Money Mali's rapidly growing client database and TerraPay's wide network spanning 120+ receive countries, 210+ send countries, 7.5Bn+ bank accounts, and 2.1Bn+ mobile wallets – this partnership is poised to make a significant impact on the region's digital and financial services landscape. Partnering with Mali's biggest mobile money operator enables TerraPay to stay true to its commitment to quality and provide the best cross-border payment services in the region. Orange Finances Money Mali and TerraPay's strategic partnership not only strengthens connectivity between Mali and the global financial network but also positions both entities for accelerated growth in the digital payments landscape. The convenience and accessibility offered by this collaboration will undoubtedly benefit industry players, the public, customers, and merchants alike. About TerraPay TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 29 global markets and enabling payments to 120+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa. About Orange Finances Money Mali Orange Finances Money Mali is an Electronic Money Establishment, subsidiary of Orange Mali and approved by the Central Bank of West African States. Created in 2015, the company guarantees the issuance, management, and distribution of electronic money under the Orange Money brand in Mali.

Read More