Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the launch of a range of new outsourcing services for reconciliations and process automation.
The services include the availability of Broadridge's PROactiveTM Reconciliation solution on an ASP (application service provider) service bureau basis, as well as Broadridge's provision of BPO (business process outsourcing) services for firms wishing to outsource the operational functions associated with the reconciliation process.
The new outsourcing services demonstrate Broadridge's strategic commitment to extend customer choice through the delivery of flexible, client-centric reconciliation solutions in conjunction with its recent acquisition of leading vendor City Networks and its PROactiveTM Reconciliation solution. Firms using Broadridge's services can benefit from cost and service predictability based on Broadridge's flexible, transparent and highly scalable business model, which is backed by the highest standards of customer support for all aspects of reconciliation processing from the earliest point in the trade processing lifecycle through to post-settlement for any type of financial instrument across all internal systems and external agents.
Broadridge has more than 40 years of experience in providing technology and outsourcing solutions to the global financial services industry. Firms using Broadridge's ASP services will be able to minimise risk by leveraging an industry-leading infrastructure that includes tier IV data centres and global support structure, IT services with robust capacity, performance and disaster containment.
Reconciliation processing also represents the latest extension to Broadridge's growing range of BPO services, which allow financial services firms to further leverage Broadridge's economies of scale through its on- and off-shore processing resources. Broadridge's BPO resources include an experienced team with specialist knowledge relating to the reconciliation process. [Broadridge previously announced an expansion of its BPO solutions on September 15, 2010.]
Tom Carey, President, Securities Processing Solutions, InterInternational, Broadridge, said, "When we acquired City Networks earlier this year, it was always part of our business plan to extend customer choice through the provision of both ASP and BPO outsourcing services, while also remaining fully committed to the ongoing delivery of on-site, licensed solutions. I am very pleased with the speed and efficiency with which we have on-boarded this highly complementary new business line, and as a result we have been able to accelerate the pace of our product and service investments."