Waters Rankings 2019: Best Outsourcing Service Provider: Broadridge
![Waters Rankings 2019](/sites/default/files/styles/landscape_750_463/public/2019-07/Broadridge-Outsourcing-WR2019.jpg.webp?itok=S0khmcdQ)
A recurring theme in the financial industry is the drive to improve efficiency while cutting costs. This has led to banks having to rely more on third-party solution providers to help them take on some workflows where they can be more efficient.
Broadridge Financial Solutions beats previous winner Electra Information Systems, which had won this category for two years running. Broadridge also won this category at this year’s Sell-Side Technology Awards, held in April.
Kevin Moran, global head of managed services for Broadridge, says the provider’s focus has been on cognitive solutions that combine machine learning and robotic process automation (RPA).
This has led to it introducing pre-trade solutions that perform trade analytics for illiquid securities, post-trade solutions that automate trade allocations for the middle office, and over 40 natural-language processing and machine-learning components that aim to provide a managed-service offering that streamlines workflows.
It also received a patent in 2018 for its proxy voting and repurchase agreements based on distributed-ledger technology. The patent shows how Broadridge’s technology can streamline reconciliation processes, improve data management, and reduce non-value added costs, Moran adds.
Looking ahead, Broadridge will continue investing in its technology platforms and operations services. Moran says Broadridge is in the midst of creating its next-generation post-trade platform called Global Post Trade Management (GPTM), which aims to provide clients with a flexible componentized platform for growth.
The platform puts together Broadridge’s global processing engines with modular components including a global sub-ledger, global position manager, an industry-standard ontology housed within a data fabric, and a next-generation user interface.
“We have several tier-one financial institutions in various stages of transitioning to this new platform,” he says. “We are supporting the industry’s adoption of new regulations like the Consolidated Audit Trail with innovative solutions and expanding our operations outsourcing services to include foreign exchange operations.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024 winner’s interview: IPC Systems
IPC Systems won the Best cloud infrastructure provider category in this year’s Waters Rankings. Tim Carmody, CTO of IPC, discusses his firm’s recent success in the rankings
Waters Rankings 2024 winner’s interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions
IMD & IRD Awards 2024 winner’s interview: Tradeweb
Tradeweb won Most innovative market data project in this year’s Inside Market Data & Inside Reference Data Awards.
IMD & IRD Awards 2024 winner’s interview: S&P Global Market Intelligence
S&P Global Market Intelligence won Best corporate actions data initiative in this year’s Inside Market Data & Inside Reference Data Awards.
Waters Rankings 2024: Best outsourcing service provider—Northern Trust
Product/service: Integrated Trading Solutions