FINTECH

Broadridge Launches New End-to-End Solution for SFDR Reporting

Broadridge | October 31, 2022 | Read time : 03:00 min

Broadridge Launches New End-to-End Solution for SFDR Reporting
To better support European asset managers in meeting their compliance obligations for the upcoming Sustainable Finance Disclosure Regulation (SFDR), global Fintech leader Broadridge Financial Solutions (NYSE:BR) today announced the launch of its new end-to-end managed service solution.

Starting January 1, 2023, SFDR requires asset managers to consider and disclose in a consistent manner how ESG factors are adopted in their decision-making processes. For Articles 8 and 9 funds, this includes a Pre-contractual Disclosure (PCD), Periodic Disclosure (PD) and Website Disclosure (WD).

Additionally, starting June 30, 2023, asset managers will also be required to produce a Principal Adverse Impact (PAI) statement to determine the impact of their investment decisions on sustainability factors.

"Asset managers continue to navigate a very complex and changing regulatory landscape and are under increasing pressure to disclose more ESG data to investors, We are excited to be bringing to market a fully managed end-to-end ESG solution comprising SFDR and the European ESG Template (EET) reporting requirements. This will enable asset managers to efficiently provide data by leveraging automation and existing network links amongst fund distribution channels to ensure they have data and regulatory documents at the right time for their end clients."

- Afzal Amijee, Commercial Director at Broadridge Fund Communication Solutions

Designed for asset managers looking after EU-domiciled funds, and UK funds being marketed to EU investors, Broadridge's new managed service solution offers comprehensive support for all aspects of the composition, production, translation, and hosting of required disclosures under SFDR — including PCD, PD, WD and PAI — as well as maintenance and distribution of the European ESG templates.

Documents can be translated into 35 different languages in line with requirements, and distributed across a variety of channels, including embedded URLs or a document library, for dissemination to platforms or additional end points.

Broadridge Fund Communication Solutions provides a comprehensive digital platform and has a proven track record of supporting the life cycle of fund data, documents, and regulatory reporting for the global asset management industry. It manages and distributes data for over 1,000 global fund groups and supports over 200 million fund data requests each year, in over 35 languages.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income, and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.

Spotlight

It’s not taught in universities or business schools. At public accounting firms, it’s a “nice to have” but not especially relevant for their young, technically proficient auditors. And for the many today who then land corporate jobs at venture-backed startups, it generally takes a back seat to a cavalcade of seemingly more pressing priorities.

Spotlight

It’s not taught in universities or business schools. At public accounting firms, it’s a “nice to have” but not especially relevant for their young, technically proficient auditors. And for the many today who then land corporate jobs at venture-backed startups, it generally takes a back seat to a cavalcade of seemingly more pressing priorities.

Related News

FINANCIAL MANAGEMENT, FINTECH

Figure Technologies Launches Ready Life Partnership to Increase Mortgage Access

Figure and Provenance | November 11, 2022

Figure Technologies, Inc., a leader in transforming financial services through the power of blockchain technology, announced the launch of its partnership with Ready Life, a rising fintech disrupting the mortgage industry. Through their mobile app, customers of Ready Pay can apply to obtain a mortgage without a credit score, leveling the playing field for many consumers looking to own a home. On the Ready Pay platform, customers who pay their rent on time using the Ready Pay Visa® Debit Card or Ready Pay digital account will qualify for mortgages without a credit score review. The app, powered by Figure Payments Corporation, will be first released to a wait list of customers. "For too long, people who consistently pay their rent on time have been shut out of home ownership, As we make banking and financial services accessible and equitable for all, we are aiming to open homeownership to many more people, providing them a chance at the American dream and fundamentally changing how people view mortgages." -Ashley D. Bell, the CEO of Ready Life In September, Figure announced the launch of its new banking and payment business. Figure Payments Corporation, known as Figure Pay, delivers Banking as a Service (BaaS) offerings through a highly scalable, quickly deployable API-driven platform. Figure Pay offers two platform alternatives, one focused on fintech, non-banks, and retailers, and one for banks. For Fintechs, non-bank lenders, and retailers, Figure Pay offers a comprehensive solution, including the BaaS core system, Visa issuer processing, regulatory support, and a complete back office, including staff, if required. With the launch of Ready Pay, Figure is able to highlight how our technology serves as a banking and payments solution for consumers who have struggled to obtain a traditional mortgage, Our capabilities have proven successful, and we will continue to find new ways to provide services that consumers need,says Tony Morosini, Figure Pay's General Manager. Figure and Ready Life have selected Provenance Blockchain, where all transactions will be recorded. Provenance is purpose-built for financial services, and today more than 50 financial institutions actively issue, manage, and transact real-world assets in natively digital format at scale across alternative assets, capital markets, lending, and payments. About Figure Pay Figure Pay is a one-stop-shop banking and payments solution unlocking material savings and efficiencies. Banking in a Box, Figure Pay's BaaS offering, gives customers a comprehensive foundation for building enterprise banking and payment solutions, all via seamless API integrations. The platform delivers key solutions for retailers, fintechs, and banks. About Figure Figure is transforming financial services through blockchain, continuing to unveil a series of fintech firsts across the capital markets, investment management, and banking and payments sectors. Figure leverages Provenance Blockchain for loan origination, servicing, financing, and now private fund services. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion-dollar business under his leadership as CEO. About Provenance Provenance Blockchain is built specifically for the financial services ecosystem. Leading financial institutions and fintechs leverage Provenance Blockchain to enable the entire digital asset lifecycle to deliver material business and customer value. Provenance Blockchain is successfully transforming lending, securitization, payments and exchanges, and has supported over $10 billion in transactions. Provenance Blockchain's native utility token, HASH, is used to pay transaction fees and enable governance.

Read More

FINANCIAL MANAGEMENT, FINTECH

Abrigo Acquires Valuant to Manage risk for Financial Institutions

Abrigo | January 04, 2023

Valuant, a well-known compliance and credit risk software and service provider, has recently been acquired by Abrigo, a pioneer in compliance, credit risk, and lending solutions for financial institutions. The acquisition aligns with Abrigo's goal of providing world-class software and services to 2,300 financial institutions. Furthermore, the merger brings together two successful, customer-focused companies, allowing Abrigo to introduce additional services and provide customers with more options. Abrigo has been assisting its clients in mitigating portfolio risk for over twenty years. With Valuant on board, Abrigo can better protect its clients from credit risks and economic uncertainty. As an organization, Valuant must take advantage of the chance to grow alongside these top-tier, locally vested organizations with which it partners. Valuant also said that the company gives its clients power through its software and services and meets the highest standards for customer satisfaction. Regarding Abrigo, the firm indicated that it discovered a strategic partner with a similar customer focus capable of providing more solutions and services to its loyal clients. Abrigo's portfolio risk and credit risk solutions automate risk management. Connecting stress testing, estimating predicted credit losses, economic forecasting, budgeting, asset and liability modeling, etc., is possible with one-time data entry and robust frameworks. In addition, Abrigo's award-winning customer service, cybersecurity, and implementation will benefit Valuant's clients. About Abrigo Abrigo's compliance, credit risk, and lending solutions help customers manage risk and grow. Its purpose to 'Make Big Things Happen' emphasizes its dedication to helping community financial institutions flourish despite 'the perfect storm' of shifting regulatory requirements, limited resources, increased competition, expanding technologies, and changing consumer expectations. The company helps customers do well by giving them new products, world-class support, and unmatched expertise.

Read More

FINANCIAL MANAGEMENT

Paysend Introduces 'Paysend Libre' a Remittance Solution Aimed at Driving Financial Inclusion in Northern Central America

PAYSEND | November 15, 2022

Paysend, the UK-based fintech, today introduced Paysend Libre, which will allow unbanked users in Northern Central America (Guatemala, Honduras, El Salvador) to receive remittances from the U.S. instantly to a Paysend virtual Mastercard digital card. The virtual card is ready to use in minutes for cash withdrawals and online purchases, allowing the millions of people that rely on funds from family members abroad to access their money safely and simply. Paysend Libre is set to launch in Guatemala in December 2022, and will expand into the broader Northern Central America region in 2023, where 60% of the adult population is unbanked. With Paysend Libre – powered by Mastercard Send technology – U.S. customers simply use a recipient's phone number to send them funds. As soon as the funds are sent, the recipient receives a notification with a link to log in via Paysend's website or app. Unbanked recipients and those without a debit card, will be issued a free Paysend virtual Mastercard that can be used to make online purchases or withdraw funds from thousands of Cajero 5B ATMs - providing them with a digital financial tool that gives them greater control of their money and enables them to participate in the digital financial system. "International remittances to Guatemala serve as a safety net for millions of people in the country. Paysend Libre offers a simple, convenient, and safe way to facilitate money transfers to those who need it the most. It also helps us move the needle in expanding financial inclusion for all," - Jairo Riveros, Chief Strategy Officer and Managing Director of North America and LATAM at Paysend Paysend and Mastercard will introduce Paysend Libre at the 56th Felaban Guatemala Convention happening from November 12-15 in Guatemala City. They will be joined by other financial inclusion leaders, including representatives from the Partnership for Central America for a discussion on how to scale financial inclusion efforts. We know there's greater impact when industry players come together to maximize our strengths and our technologies. This program is a clear example of that and will help give millions across Guatemala, Honduras, and El Salvador a fast, simple and secure to access – and use – their funds, said David Goldschmidt, Vice President of Cross Border Payments for Mastercard Latin America and the Caribbean. "Libre", which translates to "free" in Spanish, represents Paysend's mission to free unbanked individuals from the challenges that come with traditional solutions, the lack of financial options for international money transfers, and the security risk of receiving money in cash. Spending and Withdrawing Money With Paysend Libre To use the Paysend virtual Mastercard online, recipients need only to tap the card to reveal the card number, expiration date and three-digit security code, which can be used to make online purchases. Using their cell phone number, recipients can withdraw funds from their Paysend virtual Mastercard at a Cajero 5B's contactless ATM. After following a few steps, the user will receive a one-time passcode to withdraw their desired amount from their Paysend virtual Mastercard balance. Increasing Financial Inclusion in Guatemala Guatemala is home to Central America's largest population and economy, yet it has the region's lowest human development index – a measurement of life expectancy, health, and education outcomes – with over 50% of the country living below poverty. As a result, remittances play a critical role in Guatemala, where 18% of Guatemala's GDP relies solely on the money sent from migrants. Although migrants leave their home country for new opportunities, they still play critical roles in financially supporting their friends and family back home. In fact, Guatemalans living abroad sent a record $15 billion in remittances in 2021, a 35% increase from 2020. ABOUT PAYSEND Paysend is a next-generation integrated global payment ecosystem, enabling consumers and businesses to pay and send money online anywhere, anyhow and in any currency. Paysend is UK-based and has global reach having been created in April 2017 with the clear mission to change how money is moved around the world. Paysend currently supports cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes, providing over 40 payment methods for online SMEs. Paysend can send money to over 170 countries worldwide. As a global end-to-end payment platform, Paysend has its own global network of banks and international and local payment systems and has partnerships with the major international card networks Visa, Mastercard and China Union Pay as a principal member and certified processor.

Read More