back Back

Broadridge and AccessFinTech partner to resolve settlement fails

By Pavithra R

March 23, 2021

  • Broadridge
  • Spain
Share

Broadridge and AccessFinTech partner to tranform resolution of settlement fails

Broadridge Financial Solutions, a provider of investor communications, technology-driven solutions, data and analytics to the financial services industry has announced partnering with New York-based AccessFinTech, an innovative risk management service provider for banks and buy-side firms, to deliver a new Strategic Gateway for Settlement Workflow that offers efficiencies in resolving multi-party settlement fails. 

The solution is powered by Broadridge’s post-trade platforms and data and incorporates AccessFinTech’s cloud-based operations workflow model. The solution will enable banks, broker-dealers, prime brokerages and custodians to achieve transformational benefits that include cost savings, reduction of operational risk, expedited resolution of settlement fails, and a seamless experience for their buy-side clients. 

“The volatility in the securities market over the past year highlighted the industry’s need for a more efficient settlement process that promotes market liquidity. Broadridge’s partnership with AccessFinTech aims to bridge operational gaps that currently exist in multi-party exception management with a collaborative approach, providing the sell-side with consistent, quality data and an automated workflow. Our latest investment demonstrates Broadridge’s continued commitment to driving efficiency across the industry through an enhanced post-trade processing experience and simplified technology, including a consistent API framework,” said Vijay Mayadas, President of Capital Markets at Broadridge. 

Currently, the process of resolving settlement failures is manual which involves offline and time-consuming channels such as email, phone calls and chats between multiple counterparties. This leads to greater operational risk, a challenging user experience, inefficiency, and regulatory non-compliance under the Central Securities Depository Regulation (CSDR) requirements expected by February 2022. 

By enabling participants to share data with multiple counterparties on a single platform, the Strategic Gateway for Settlement Workflow ensures high-quality and consistent data, seamless onboarding, and transforms clients’ ability to compare data automatically and resolve settlement exceptions efficiently. 

“In today’s banking environment, clients demand inventive yet robust solutions that can help reduce their costs and eliminate excessive complexity. We are excited to partner with Broadridge, as we believe clients of both firms will benefit from a much-improved experience in multi-party workflow management and exception resolution. Further, we look forward to working together on other new solutions to create a more powerful and innovative ecosystem for the market,” said Roy Saadon, CEO of AccessFinTech.

New York-based Broadridge Financial Solutions with over $4.5 bn in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. It provides investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. 

Previous Article

March 23, 2021

Top FinTech funding rounds in the Americas: March 2021

Read More
Next Article

March 24, 2021

Future FinTech signs agreement to acquire 60% of Guang Dong Hi-Card Business Service

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Broadridge

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

American Express & Emburse bring integrated expense management solutions to SMEs

Read More

Today

SurePay teams up with FIS to deliver Verification & CoP solutions

Read More

Today

SumUp offers Direct Debits for merchants in the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023