Broadridge
Financial Solutions (NYSE:BR), a publicly-listed major fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term company, has
joined forces with Apex Silver, a subsidiary of Apex Fintech Solutions, to
provide a comprehensive solution for cost basis processing and tax information
reporting for the financial services industry.
Apex Silver and Broadridge
Team Up for Tax Reporting Offering
The
collaboration aims to give wealth managers a more tightly integrated offering
to improve clients' tax experience while reducing ownership costs. The
partnership introduces a management model and common data sourcing, providing
greater flexibility and scalability while making integration seamless.
According
to Thomas Burke, the President of Broadridge Tax Services: "The
collaboration provides a complete reporting solution for complex transaction
processing that addresses both cost basis and tax treatment."
Broadridge's
collaboration with Apex Silver aims to offer a comprehensive one-stop reporting
solution that supports compliance with evolving tax regulations and emerging
asset classes such as cryptocurrency. The goal is to provide clients with a
reporting solution that is easily scalable in response to increased transaction
volumes, enabling wealth managers to stay ahead of the curve.
"Apex
Silver offers state-of-the-art cost-basis reporting solutions with a focus on
delivering industry-leading operational efficiencies and superior client
experiences. Our cloud-based, API-driven cost basis offering supports tens of
millions of investment accounts and multiple Tier 1 financial institutions,
including several firms that are also Broadridge tax information reporting
clients. We look forward to working on this exciting initiative together,"
Blake Henry, the Chief Executive Officer at Apex Silver, commented.
As a result
of this collaboration between two prominent fintech providers, financial
institutions, such as banks, broker-dealers, and custodians can now partner with
a single vendor to access integrated tax information and cost-basis reporting
solutions.
Apex
Silver, formerly known as Silver Management Group of Companies, is a SaaS business
and technology solutions provider for the investment services industry.
Broadridge Reports New
Partnerships, Hires and Higher Revenues
A month
ago, Broadridge published its financials for the second quarter of the fiscal year 2023, reporting a 3% yearly rise in total revenue to about $1.3 billion. In addition,
the recurring revenue increased by 6% to $840 million.
Additionally, the
operating income escalated 57 percent to $108 million, and the margin improved to 8.3 percent from 5.5 percent. The company's adjusted operating
income grew from $141 million to $$173 million, which is a rise of 23
percent.
In the
meantime, Broadridge signed two new partnership agreements with CQG in March and Point Focal in February. CQG and Broadridge will integrate their Order
Management System (OMS) and Execution Management System (EMS), while Point Focal
will allow the company to offer clients advanced alternative data-driven
quantitative insights and portfolio analytics
Analytics
Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt
Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt
Read this Term.
Furthermore,
the fintech firm based in the United States has revealed that it has welcomed two seasoned industry professionals to its European sales division. Guillaume
Bunouf and Alvaro Del Pino Aguilera have been appointed to identify and pursue
opportunities for growth in the European market.
Broadridge
Financial Solutions (NYSE:BR), a publicly-listed major fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term company, has
joined forces with Apex Silver, a subsidiary of Apex Fintech Solutions, to
provide a comprehensive solution for cost basis processing and tax information
reporting for the financial services industry.
Apex Silver and Broadridge
Team Up for Tax Reporting Offering
The
collaboration aims to give wealth managers a more tightly integrated offering
to improve clients' tax experience while reducing ownership costs. The
partnership introduces a management model and common data sourcing, providing
greater flexibility and scalability while making integration seamless.
According
to Thomas Burke, the President of Broadridge Tax Services: "The
collaboration provides a complete reporting solution for complex transaction
processing that addresses both cost basis and tax treatment."
Broadridge's
collaboration with Apex Silver aims to offer a comprehensive one-stop reporting
solution that supports compliance with evolving tax regulations and emerging
asset classes such as cryptocurrency. The goal is to provide clients with a
reporting solution that is easily scalable in response to increased transaction
volumes, enabling wealth managers to stay ahead of the curve.
"Apex
Silver offers state-of-the-art cost-basis reporting solutions with a focus on
delivering industry-leading operational efficiencies and superior client
experiences. Our cloud-based, API-driven cost basis offering supports tens of
millions of investment accounts and multiple Tier 1 financial institutions,
including several firms that are also Broadridge tax information reporting
clients. We look forward to working on this exciting initiative together,"
Blake Henry, the Chief Executive Officer at Apex Silver, commented.
As a result
of this collaboration between two prominent fintech providers, financial
institutions, such as banks, broker-dealers, and custodians can now partner with
a single vendor to access integrated tax information and cost-basis reporting
solutions.
Apex
Silver, formerly known as Silver Management Group of Companies, is a SaaS business
and technology solutions provider for the investment services industry.
Broadridge Reports New
Partnerships, Hires and Higher Revenues
A month
ago, Broadridge published its financials for the second quarter of the fiscal year 2023, reporting a 3% yearly rise in total revenue to about $1.3 billion. In addition,
the recurring revenue increased by 6% to $840 million.
Additionally, the
operating income escalated 57 percent to $108 million, and the margin improved to 8.3 percent from 5.5 percent. The company's adjusted operating
income grew from $141 million to $$173 million, which is a rise of 23
percent.
In the
meantime, Broadridge signed two new partnership agreements with CQG in March and Point Focal in February. CQG and Broadridge will integrate their Order
Management System (OMS) and Execution Management System (EMS), while Point Focal
will allow the company to offer clients advanced alternative data-driven
quantitative insights and portfolio analytics
Analytics
Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt
Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt
Read this Term.
Furthermore,
the fintech firm based in the United States has revealed that it has welcomed two seasoned industry professionals to its European sales division. Guillaume
Bunouf and Alvaro Del Pino Aguilera have been appointed to identify and pursue
opportunities for growth in the European market.