WatersTechnology Asia Awards 2020: Best Outsourcing Provider—Broadridge Financial Solutions
Broadridge Financial Solutions wins the category for the best outsourcing provider in the inaugural WatersTechnology Asia Awards. As a global solutions provider to capital markets firms on both sides of the industry, Broadridge delivers customized outsourcing services that comply with the regulatory guidelines of the various markets in which it operates. The Lake Success, NY-based firm provides clients with the opportunity to implement technology as a way of mutualizing costs through outsourcing. It has a range of technology and operations outsourcing solutions that automate and support the entire securities lifecycle for its clients.
David Becker, managing director, Asia-Pacific, for Broadridge, explains that for Broadridge’s clients, this type of outsourcing “enhances the securities trading process, both in terms of the efficiency in technology levels, but also in terms of supporting the value they offer their clients, in addition to navigating the risk and regulatory requirements they must fulfill.”
What make Broadridge particularly relevant and competitive in today’s business environment are its transformative client solutions. As a global service provider, Becker explains, what provides Broadridge with a unique edge is that it is “fully international and provides scalable, dynamic solutions, whether it’s for the North American, EMEA or Asia-Pacific regions, that are equally compliant with local trading requirements in each of those markets.”
Before the Covid-19 pandemic, the primary drivers that Broadridge observed in the market for the adoption of new technologies, infrastructure and solutions, was around how firms were looking to maximize efficiencies. Throughout the Covid-19 crisis, Becker explains, “one of the biggest challenges for all of us has been the need for continuity and the quick turnaround in trading and operational activities. Most of that has been around business continuity planning. As organizations had to go into a remote work mode, while dealing with record trading volumes, our resilient and scalable technology processed spikes many times our normal volumes without issue.”
Throughout the first half of 2020, Broadridge was able to continue providing services for its clients. The company has created a stable of unique solutions with a focus on robotic process automation, machine learning and cloud-based offerings. What is fundamental for Broadridge, according to Becker, is “the engagement with clients around new best practices, ensuring that even when in remote trading, communication systems are in place, that they are fully complying with regulators, and that systems are operational and effective, even though the staff supporting [those functions] are in work-from-home mode.”
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