Technology vendor Broadridge Financial Solutions has launched a new automated asset servicing solution using cloud-based technology as it looks to combat post-trade inefficiencies.
The service, designed and developed with a global tier-one bank, will streamline corporate actions, dividend and coupon processing across asset classes, business lines and regions by automating the full asset servicing lifecycle.
“The number of corporate actions is increasing across global markets – each one navigating a complex network of intermediaries and custodians,” said Tim Gokey, president of Broadridge global technology and operations.
“With fragmented systems and regulatory pressures increasing processing challenges, financial institutions need a modern solution that simplifies their architecture, streamlines the operations and improves risk management.”
Broadridge stated the solution is being deployed by some firms as a unified global platform, replacing multiple silo systems across geographies and business units, allowing banks to view, management and report across portfolios, events and global trading models.
The new global asset servicing solution will also have the ability to support and enhance front-office activities by providing a range of data management and analytics tools.