Broadridge Financial Solutions released the latest version of its PROactive solution suite for reconciliation and process management, which aims to enhance overall operational efficiency for financial firms.
The release includes a new confirmations portal for sell-side firms seeking to improve service levels with their institutional clients. The portal eliminates paper-based communications for the affirmation of foreign exchange (FX) and non-deliverable forward (NDF) trade confirmations.
Sell-side confirmations received via SWIFT are published via the internet, allowing buy-side organisations to view, affirm, or query them. Interfacing to the solution is simple, with sell-side firms using their existing SWIFT network, and buy-side clients accessing a single website – avoiding the need to build a costly infrastructure to utilise the service.
“We have extended our track-record of helping firms reduce the cost of configuring new reconciliations through our new, user-friendly dashboards that help tackle prioritised exceptions in a more timely and efficient manner,” said Jose Contin, general manager, reconciliation and process management solutions for Europe, the Middle East and Africa (EMEA) and Americas, Broadridge.
“Our new confirmations portal, available as a technology managed service, offers firms a secure and streamlined approach to confirmation and affirmation processing at a time when industry regulations, specifically around the requirement of timely confirmations, are becoming ever more prevalent.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.