Broadridge Collaborates with AWS to Expand Private Market Hub, the Industry’s Leading Private Equity Blockchain Solution
NEW YORK and LONDON, June 8, 2021 / PRNewswire / – Using Distributed Ledger Technology (DLT) to better streamline and connect the ecosystem and private equity assets, Broadridge Financial Solutions, Inc. (NYSE: BR) today released the latest evolution of its industry-leading Private Market Hub platform, using Amazon-managed blockchain from Amazon Web Services, Inc. (AWS). The updated platform, the industry’s first blockchain technology deployment for the private equity market, has now added connectivity to existing industry tools and technologies to help further automate workflows between front-end functions. , middle and back-office, thus offering a coherent, secure and real environment. -temporal view of the data.
âWe are leveraging blockchain technology to further drive innovation, removing industry friction from workflows and realizing real cost and time savings, providing seamless connectivity to applications and critical solutions that industry participants rely on, âsaid Eric bernstein, President of Broadridge Asset Management Solutions. âTrends in digitization, data and analytics are only growing, and digital assets mark the start of an exciting new era for the private markets industry, fund managers and investors, accentuating the need to access the best products to respond to changing landscapes. ”
âWe are delighted to support Broadridge’s Private Market Hub, which is accelerating the digitization of a critical part of the financial services infrastructure,â said Saman Michael Far, vice president, Financial Services Technology, Amazon Web Services. âPrivate Market Hub’s use of Amazon Managed Blockchain, a fully managed blockchain service, allows us to help Broadridge scale efficiently and serve its customers more effectively. ”
Bringing together participants from the private equity ecosystem, Private Market Hub not only reduces friction for fund managers, investors and administrators, but also enables easier auditability. Funds can manage, communicate and interact with investors and other stakeholders with much greater efficiency. These innovations are made possible by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates visibility and trust.
Making private investments is a very manual and time consuming process for all parties involved, due to disconnected communication and data sharing channels. For funds, managing investor communications and other documents is a tedious task, and process management functions such as capital calls are both time consuming and resource intensive. Back office reconciliation between systems often requires significant manual steps and as a result there is no single view of fund performance and investor details.
The latest version of the Private Market Hub addresses these challenges and expands the feature set available to platform participants, including independent auditor access and the addition of connectivity to the company’s existing tools and technologies. industry via the open API architecture of the Private Market Hub.
Broadridge Financial Solutions (NYSE: BR), a global leader in FinTech with more than $ 4.5 billion in revenue, provides the essential infrastructure that powers investment, corporate governance and communications to enable better financial lives. We provide technology solutions to banks, brokers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub for corporate governance by connecting thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge’s technology and operating platforms underpin daily trading on average more than the United States. 10,000 billion dollars stocks, fixed income and other securities around the world. A certified Great Place to WorkÂ®, Broadridge is part of the S&P 500Â® Index, employing over 12,000 associates in 17 countries. For more information about us and what we can do for you, please visit www.broadridge.com.
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SOURCE Broadridge Financial Solutions, Inc.