Managed support services provider of the year, operational risk – Broadridge

Robust, predictive and effective managed support services’ technology and infrastructure is critical for optimum operational risk management at organisations globally, particularly during unprecedented times.

The events of the Covid-19 pandemic have presented a real-world stress-test for financial institutions, as heightened market volatility led to sustained increases in trading volumes across the board in equities, fixed income, and options.

Staying ahead while bolstering resiliency requires businesses to equip themselves with a best-in-class outsourcing solution that combines technology and operations expertise to support the entire
securities lifecycle.

Kevin Moran, Broadridge

Broadridge, a global financial technology solutions provider, has been at the forefront of such innovation, helping banks, broker-dealers, asset managers and corporate issuers overcome formidable operational challenges and optimising risk management. 

Through a forward-thinking and cutting-edge approach, Broadridge provides next-generation technology, data and analytics solutions for clients that drive business transformation by enriching client engagement, navigating risk and optimising efficiency.

Broadridge’s hallmark business process outsourcing (BPO) is an industry-leading, Finra-regulated operations outsourcing solution that combines technology and operations expertise. The BPO
offers a componentised model that supports operational processing across multi-currency, multi-asset and multi-entity solutions with a follow-the-sun support structure.

Spanning more than 80 markets globally, Broadridge BPO’s capabilities extend to asset servicing, securities lending, record-keeping, reconciliations, custody-related functions, client onboarding, cost-basis, tax operations, expense management and regulatory reporting. 

Furthermore, its highly customisable offering helps clients adapt to new regulations and focus on growing their core businesses while mutualising operations and innovation costs, increasing operational efficiency, scalability and risk mitigation. 

Broadridge BPO is uniquely positioned versus peers as it offers clients a predictable, outcome-based cost model driven by mutually agreed pricing tiers and service-level agreements (SLAs). The BPO ensures clients have real-time transparency into their data, volumes and processing through a suite of proprietary oversight tools.

The BPO-on-Demand, BPO Middle Office and Loan Processing Services and Payment-as-a-Service (PaaS) offering are part of this suite of services launched to expand global market coverage and address dynamic client needs.

BPO-on-Demand, one of Broadridge’s newest solutions, offers clients the ability to manage workloads by utilising in-house operational experts around the globe when they are needed most. 

It serves financial services firms in areas of executive staffing, running cost-saving exercises to hit budget targets, manage concentration risk, and develop extensive business continuity planning (BCP) to ensure a seamless transition into BCP or disaster recovery modes, especially during intense market volatility phases. 

With tier one banks as clients already, BPO-on-Demand boasts a stronger pipeline of opportunities over the next 12 months.

BPO Middle Office and Loan Processing serves both buy-side and sell-side clients. Emerging
from a recent Broadridge acquisition of Clear Structure, it is a comprehensive loan-based business process offering wrapped around a cloud-based, portfolio management application built for portfolio managers, investment analysts, risk professionals and operations teams. 

It covers private debt and both commercial and syndicated loans, and existing clients rely on BPO for loan administration throughout its lifecycle, running distribution and payment events, and managing loan books on an ongoing basis.

BPO’s PaaS offering, a partnership between Broadridge and German-based payments technology supplier PPI AG, supports clients in their payments processing challenges, driven by ongoing market changes such as the migration of SEPA ISO and national payments infrastructure changes, such as EBICS. The offering includes core payments processing, a dynamic customer channel and Interbank/CSM connectivity, anti-money laundering and sanctions screening, intelligent reconciliations, transaction monitoring and exception management. 

Broadridge is constantly deploying next-gen technology, including a significant increase in digital labour performing 300+ functional tasks across 20 operational areas. Aside from expanding its global footprint and launching new offices in Europe (Germany and the Czech Republic) and the US (North Carolina), Broadridge aims to continue providing clients with agile and scalable solutions and be their trusted partner, even in the most unprecedented times.

The judges said:

• “Like the BPO-on-demand concept. The fact that multiple clients are using it suggests it works”
• “Very insightful”
• “Like the outcomes pricing model”

Sponsored content