Sell-Side Technology Awards 2022: Best outsourcing provider to the sell side—Broadridge Financial Solutions

OVERVIEW

Broadridge provides communications, technology and data and analytics solutions to banks, broker-dealers, asset managers and corporate issuers. It drives business transformation for clients with solutions for enriching client engagement, navigating risk, optimizing efficiency and generating growth. Hosted in datacenters and on the cloud, its multi-currency, multi-asset and multi-entity solutions support real-time trading, clearance and settlement of equities, fixed income, mutual funds, foreign exchange, exchange-traded funds, and derivatives in over 80 established and emerging markets.

“The outsourcing market has garnished incredible interest and has seen dramatic growth in the last couple of years. Sell-side firms, both large and small, are turning to providers like Broadridge BPO to solve new business challenges. It is essential, now more than ever, to have a global outsourcing solution that anticipates these challenges and provides tailored solutions proactively. Over the last year, our BPO has done just that  and, as a result, our presence in the sell-side community has grown over 10% year-over-year.”
Collin Kitchell, global chief business officer, Broadridge Business Process Outsourcing

THE SOLUTION

Broadridge’s Business Process Outsourcing (BPO) combines the firm’s technology with its operations expertise to support the entire securities lifecycle. Its BPO capabilities extend to securities clearing, asset servicing, securities lending, loan processing, middle-office trade support, reconciliations, client onboarding/KYC, cost-basis, tax, regulatory reporting, and trade expense management. The service is designed to help clients adapt to new regulations, focus on their core businesses while mutualizing operations and innovation costs, and increase operational efficiency, governance, and risk mitigation. Broadridge also provides securities processing outsourcing in Emea and Asia-Pacific through Accenture Post-Trade Processing, a partnership with Accenture’s global business process outsourcing capabilities.

Broadridge BPO outsources operations for more than 50 clients, including six primary dealers, and supports about 50 million customer accounts, more than $2 trillion in assets under management, and processes $7 trillion in equity, fixed income, and international settlements trades per day. This translates to about 35% of the daily fixed income-trade volume, 25% of the options cleared through the Options Clearing Corp. (OCC), and $400 billion securities lending book of business.

WHAT’S TO COME

Broadridge BPO continues to focus on growing its global presence and expertise in two areas: The first is the exchange-traded derivatives marketplace, where it provides futures commission merchants (FCMs) with a front-to-back technology, operations, and risk management solution. The second is continued growth in supporting trade finance firms with operational and technology solutions in middle- to back-office functions. 

Broadridge BPO has experienced significant growth in the last year. It has increased firm total revenue by 20% year-over-year; grown its global subject matter expert pool by 15%; introduced five new service offerings across multiple asset classes, market segments, and geographies; and has increased the scope of services utilized by 30% of existing clients and increased the overall client pool by 10%. 

WHY THEY WON

Few firms, if any, can compete with the depth and breadth of outsourced services offered by Broadridge. Add to that its sheer scale, track record in the industry and its deep domain expertise, and it soon becomes apparent just how compelling the Broadridge proposition is. 

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