19 August 2017
visit www.avoka.com

Scivantage selects Broadridge reconciliation tech

30 July 2013  |  1295 views  |  0 Source: Broadridge Financial Solutions

Scivantage, an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting and wealth management applications, announced today that it will utilize Broadridge Financial Solutions' (BR) consolidated business process outsourcing solution to support reconciliation activities for Scivantage Maxit, the industry's only fully automated, real-time cost basis reporting platform.

Working together, Scivantage and Broadridge, the leading provider of investor communications and technology-driven solutions to financial services firms and corporate issuers globally, will provide enhanced and premium reconciliation services, further extending the unique data management capabilities Scivantage Maxit offers, including data cleansing, management and synchronization. Scivantage Maxit clients will have access to additional processing capabilities to further automate their cost basis reporting process, helping reduce data errors by eliminating manual operations and enabling clients to benefit from Broadridge's best-in-class service levels.

"Enhancing Maxit's reconciliation process is a natural extension of our recently announced partnership with Broadridge. This partnership brings together unmatched cost basis expertise in deploying, managing and developing cost basis reporting applications," said Job Dennison, Senior Vice President, Investment Reporting at Scivantage. "Our clients will continue to benefit as we work with Broadridge to further establish a standard for data accuracy and overall management of our clients' complex cost basis data needs."

"We are pleased to be working closely with Scivantage to help operationalize the manual business processes for reconciliation services," said Michael Alexander, President, Business Process Outsourcing, Broadridge. "As cost basis reporting regulations become increasingly complex, data cleansing and, more importantly, data accuracy, are critical to ensure compliance. Our proven methodology for comprehensive reconciliation support, combined with Maxit's market-leading cost basis solution, will complement each other and further enhance the value we deliver to clients."
Scivantage Maxit® is the only fully automated, real-time solution to provide accurate, adjusted cost basis reporting through a highly configurable platform. As the largest cost basis reporting product in the industry, Maxit enables broker-dealers, mutual funds, custodians and prime brokers to streamline tax and portfolio reporting and deliver a superior client experience, while reducing operational costs and meeting regulatory requirements. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Broadridge Financial Solutions

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8698 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7690 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6936 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6355 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6204 views comments | 11 tweets | 9 linkedin

Featured job

Find your next job