Broadridge has made available its range of asset servicing solutions on the Amazon Web Services (AWS) cloud platform, allowing greater flexibility for banks to replace legacy processes.
The technology vendor stated that a global tier-one investment bank is in live operation with the service, and another bank is in the process of onboarding via AWS.
“Collaborating with AWS to leverage the latest in cloud technology will address the significant challenges of inefficient processes in asset servicing and reduced ability to control costs,” said Samir Pandiri, President of Broadridge International.
“This is another example of delivering real business value through leading technology-driven solutions that set the standard for the financial services industry.”
The global asset servicing solution business helps banks to replace incumbent systems with a single platform, aimed at streamlining corporate actions, dividend and coupon processing across asset classes and geographies.
By operating the solution on the AWS cloud, Broadridge stated it can add increased operational agility, improved and faster client onboarding, quicker deployments, and enhanced security, scale, and resiliency.
“Asset servicing is a vital component of the daily operations of banks and broker-dealers,” said Scott Mullins, head of worldwide financial services business development, Amazon Web Services.
“By using AWS to power its industry-leading global asset servicing solution, Broadridge is providing its clients with increased operational effectiveness, resiliency and scalability, while providing the ability to effectively control costs.