All-in-one solution solves reconciliations
with business-user self-build to improve total cost of ownership
and drive trade simplification
NEW
YORK, Sept. 14, 2023 /PRNewswire/
-- Tackling both reconciliation and data integrity challenges,
global Fintech leader Broadridge Financial Solutions,
Inc. (NYSE:BR) today announced the launch of BRx Match, a
holistic cloud-based reconciliation and matching solution. BRx
Match was developed as an all-in-one reconciliation platform,
solving both complex and simple reconciliations, and putting the
power of an enterprise reconciliation solution into the hands of
business-users. The platform automates the entire reconciliation
process from the earliest point, resulting in improved efficiency,
transparency and accuracy, while reducing risk and total cost of
ownership.
"As global regulatory requirements become more complex and
increasing transaction volumes demand greater operational
efficiency and risk management, BRx Match allows financial and
corporate clients to automate the reconciliation of any data
sources and expedite the exception management process," said
Alastair McGill, General Manager of
Data Control Solutions, Broadridge. "With business-user self-build
capabilities, the platform accelerates the onboarding of new
reconciliations, thereby reducing total cost of ownership and
creating a more responsive operation. BRx Match is the latest
example of how Broadridge is streamlining the front-to-back
environment for our clients through easing data integration and
simplifying and accelerating the reconciliation and exception
management process."
Traditional reconciliation solutions have failed to deliver on
the enterprise vision of one tool providing a consolidated and
coordinated approach to reconciling data across the business,
either for operational or compliance purposes. Currently,
reconciliation operations and business users are faced with a
myriad of data sources, each with their own respective
reconciliation models. BRx Match is the first solution in the
industry to tackle this issue, simplifying data acquisition and
transformation challenges while providing core sets of matching
rules for a wide variety of common reconciliations. Having acquired
the data, a choice of matching engines can be utilized to obtain
the optimum output. Business users can design, build, test, modify,
and deploy their own reconciliations with self-build capability.
BRx Match is data agnostic, allowing it to perform the widest
variety of reconciliation for securities, cash, derivatives,
reference data, card services, financial, and insurance data. The
platform provides unparalleled control and consistent user
experience across the enterprise with full exception management,
workflow, consolidated audit trail, and holistic reporting
capabilities.
"Volumes of transactions are growing across every asset class
and causing an explosion in both structured and unstructured data
that require fast processing and the ability to reconcile
discrepancies in datasets quickly," according to Dayle Scher, Research Principal
at Celent. "Firms across the capital markets, asset and
wealth managers and corporates are examining ways to streamline and
consolidate their fragmented reconciliation processes and
technology across asset classes, business lines, and
geographical regions – for both simple and complex reconciliations
– under a single platform, thereby reducing total cost of
ownership. While the reconciliation function is the last line
of operations risk mitigation, not having a holistic view of
transactions or data exceptions actually increases risks to the
enterprise."
BRx Match is non-disruptive for Broadridge's existing clients.
All clients will receive the BRx Match UI and product enhancements
as part of their roadmap and will have the option to introduce the
new self-service capability.
To learn more about BRx Match, please see here.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with more than $6 billion in
revenues, provides the critical infrastructure that powers
investing, corporate governance and communications to enable better
financial lives. We deliver technology-driven solutions that drive
business transformation for banks, broker-dealers, asset and wealth
managers and public companies. Broadridge's infrastructure serves
as a global communications hub enabling corporate governance by
linking thousands of public companies and mutual funds to tens of
millions of individual and institutional investors around the
world. Our technology and operations platforms underpin the daily
trading of more than $10 trillion of
equities, fixed income, and other securities globally. A certified
Great Place to Work®, Broadridge is part of the S&P 500® Index,
employing over 14,000 associates in 21 countries.
For more information about us and what we can do for you, please
visit www.broadridge.com
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.