Fintech
Broadridge | September 18, 2023
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.
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Financial Management
PR Newswire | October 06, 2023
Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), today announced that UBS successfully went live on Broadridge's newly launched sponsored repo solution built on the DLT enabled Distributed Ledger Repo (DLR) platform. This sponsored repo solution marks the launch of the next phase in the rollout of Broadridge's DLR platform. Continuing to build on the initial success of the platform and leveraging the growing expansion of the network across the global repo community, this is a major step forward to providing clients with significant settlement cost savings, process simplification, scalability, and reduction of operational risks via distributed ledger technology and smart contracts.
By digitizing our existing sponsored repo trade flow and incorporating those trade flows into our DLR tech stack on Broadridge's platform, we can increase efficiencies while reducing the risk of fails and lowering our settlement costs, said Christian Rasmussen, Head of Investment and Execution, Group Treasury UBS. We are always looking for innovative ways to reduce operational risks and believe this platform will help us accomplish our goals.
"We are thrilled to announce the go live of BR's new sponsored repo solution, which leverages distributed ledger technology to help clients gain operational efficiencies and drive settlement cost reduction. This is the latest milestone in executing on our vision of transforming global repo market infrastructure and further demonstrating the power and value creation of DLR," said Horacio Barakat, Head of Digital Innovation at Broadridge. "We are empowering leading financial institutions with the ability to dramatically lower risk and operating costs and see enhanced liquidity."
The global expansion of the DLR platform across both sell-side and buy-side firms enables a network effect of increased benefits and additional transaction types. Broadridge is a leader in bringing the benefits of distributed ledger capabilities to transform the global repo market, capturing $1 trillion dollars in monthly volume.
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Payments
Lloyds Banking Group | October 13, 2023
Lloyds Bank Cardnet has chosen a prominent technology firm to offer its customers a rapid, effective, and secure payment solution.
Christopher Kronenthal highlights how the partnership with Lloyds Bank is elevating the UK merchant customer experience with leading capabilities, innovation, and more.
Lloyds Bank Cardnet's patented technology offers versatile global payment processing across industries and service providers.
Lloyds Bank, part of Lloyds Banking Group, announced that it has accelerated its strategic partnership with FreedomPay, a prominent consumer-centric commerce platform. The partnership grants merchants utilizing Lloyds Bank Cardnet access to the advanced payment processing capabilities provided by FreedomPay.
Lloyds Bank Cardnet is pivotal in the UK payments ecosystem, with 21 million digitally active customers and significant monthly processing volumes. It is a well-known entity in the UK payments industry, serving key sectors such as retail, hospitality, education, healthcare, and financial services. The bank is committed to reinvigorating, streamlining, and elevating the merchant journey, and this partnership is a significant step toward that commitment.
Melinda Roylett, Managing Director of Lloyds Bank Merchant Services, expressed that the renewed strategic partnership with FreedomPay will empower them to maintain the provision of best-in-class payment solutions to their clients. She stated that the company eagerly anticipates the opportunity to enhance the service it presently offers clients, contributing additional value to support their business growth.
FreedomPay Commerce Platform, which operates on a unified technology stack, upholds world-class security standards and is a leading company in North America to receive PCI Security Standards Council validation for point-to-point encryption. Its comprehensive solutions encompass payments, security, identity, and data analytics, accessible in-store, online, and on mobile platforms, with seamless API integration.
Christopher Kronenthal, President of FreedomPay, said, "Together with Lloyds Bank, we are redefining the customer experience for UK merchants by blending loyalty, security, and value-added services.”
[Source – Globe Newswire]
Additionally, he stated that Lloyds Bank's Cardnet service, through the FreedomPay platform, provides merchants with market-leading capabilities, options, and innovative solutions.
This move aligns with the bank's ongoing growth strategy, which offers clients access to a comprehensive range of swift, efficient, and highly secure payment solutions. The fully integrated, patented technology affords Lloyds Bank Cardnet customers the versatility to process payments internationally, across various industries, at different points of sale, and through various merchant service providers. FreedomPay has designed its technology to consistently excel in the intricate realm of international commerce. Its award-winning Commerce Platform works across continents, enabling global enterprises to deliver Next Level experience.
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