Broadridge Updates Solution for Operational Efficiency
Broadridge Financial Solutions released the latest version of its PROactive solution suite for reconciliation and process management, which aims to enhance overall operational efficiency for financial firms.
The release includes a new confirmations portal for sell-side firms seeking to improve service levels with their institutional clients. The portal eliminates paper-based communications for the affirmation of foreign exchange (FX) and non-deliverable forward (NDF) trade confirmations.
Sell-side confirmations received via SWIFT are published via the internet, allowing buy-side organisations to view, affirm, or query them. Interfacing to the solution is simple, with sell-side firms using their existing SWIFT network, and buy-side clients accessing a single website – avoiding the need to build a costly infrastructure to utilise the service.
“We have extended our track-record of helping firms reduce the cost of configuring new reconciliations through our new, user-friendly dashboards that help tackle prioritised exceptions in a more timely and efficient manner,” said Jose Contin, general manager, reconciliation and process management solutions for Europe, the Middle East and Africa (EMEA) and Americas, Broadridge.
“Our new confirmations portal, available as a technology managed service, offers firms a secure and streamlined approach to confirmation and affirmation processing at a time when industry regulations, specifically around the requirement of timely confirmations, are becoming ever more prevalent.”