Customers will gain advanced sanctions
screening and end-to-end securities settlement
control
NEW
YORK and LONDON,
Sept. 18,
2023 /PRNewswire/ -- Extending its strategic
commitment to providing fast and efficient access to new service
innovations from Swift, global Fintech leader, Broadridge
Financial Solutions, Inc. (NYSE:BR) has announced the
immediate availability of its connectivity to Swift's API for
Transaction Screening Service, and also for Swift's newly launched
Securities View service. Using Broadridge's connectivity for these
services, financial firms and corporate treasuries will be able to
optimize sanctions compliance and transform their oversight and
tracking of the securities lifecycle.
Broadridge has already signed its first customers for both
services. This includes TÜV Rheinland for the Transaction Screening
Service, and a prominent European private bank for Securities
View.
Darren Holdstock, Global Head of
Complementors at Swift, said: "We are pleased to extend the benefit
of our Transaction Screening Service and Securities View solutions
to more institutions through connectivity with Broadridge.
Transaction Screening Service means institutions can securely
screen incoming and outgoing messages against the most up-to-date
sanctions lists; while Swift Securities View provides end-to-end
visibility of securities transactions and enables market
participants to quickly identify trades at risk of failing and
allowing them to take pre-emptive action."
"We take our regulatory compliance obligations very seriously,
and we are committed, with the support of Broadridge, to further
strengthen our control over sanction compliance by implementing a
real-time and fully integrated screening in our payment processes,"
said Julien Muet, Head of Corporate Treasury, TÜV Rheinland.
"As such, we turned to Broadridge in their capacity as our trusted
sole outsourcing partner for all of our Swift services, and have
been impressed by their professionalism, service standards and
depth of knowledge relating to sanctions screening."
Sanctions screening regulations can be complex, challenging to
follow, and subject to a high frequency of changes. Many
firms are further exposed by inefficient, time-consuming processes
when maintaining constantly evolving lists of sanctioned
organizations and individuals. By connecting its customers to
Swift's Transaction Screening Service, Broadridge is enabling
direct access to a best-in-class, centrally managed service that
enables maximum accuracy and efficiency for transaction screening
and sanctions list management.
"As an accredited Swift Partner and Technology API enabler, we
have a long-standing track-record of empowering leading financial
firms and corporate treasury organizations globally, through
outsourced access to Swift's services," said Heidi Dittmar, head of Broadridge's Swift
services business. "As Swift continues to invest and advance
its services, as demonstrated for Transaction Screening Service and
Securities View, it is important that we continue to have a timely
response so that our clients can depend on us and derive maximum
business value."
Swift Securities View enables firms to gain an end-to-end view
of a securities settlement transaction, bringing transparency at
all stages and enabling firms to identify and resolve exceptions
quickly and effectively, increasing settlement efficiency and
reducing exposure to late settlement penalties. Broadridge is
now supporting customer connectivity to Swift for use of the
Securities View service, enabling firms to optimise the workflow of
their securities operations.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with over $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, please visit
broadridge.com.
Broadridge Contacts
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg Rosenberg
Global Head of Corporate Communications, Broadridge
Gregg.Rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.