Lake Success, New York - March 18, 2009– Broadridge Financial Solutions, Inc. (NYSE:BR) today announced a strategic alliance with Oracle Financial Services Software (Reuters: IFLX.BO & IFLX.NS) to offer a comprehensive best practices compliance solution for financial institutions using Oracle Mantas. This alliance will capitalize on their respective world-class capabilities and will provide financial institutions such as broker-dealers, clearing firms and banks, with a one-stop approach to the management of their compliance programs. Broadridge will market a managed solution that combines Broadridge's expertise in technology-based outsourcing solutions to the financial services industry with the Oracle Mantas Behavior Detection Solution. According to Oracle, the Oracle Mantas Behavior Detection Solution is the industry's most comprehensive solution for avoiding risk, exceeding regulatory requirements, and enhancing customer relationships.
The alliance with Oracle Financial Services Software will enable Broadridge to drive new growth opportunities and offer its clients a compliance solution that will assist them with reducing the costs and complexity associated with compliance, while at the same time helping these firms improve productivity.
The solution will assist financial institutions with common compliance challenges, including: heightened regulatory scrutiny, new regulations, the overwhelming burden of compliance management, risk management, customer suitability, representative oversight, trading abuses and mutual fund sales compliance to identify problematic activities related to customer interactions.
“Compliance is not new to financial institutions, but the increasing number and complexity of mandates and regulations is causing institutions to look at risk and compliance in a new light. Through our alliance with Oracle Mantas, we can provide clients a clear choice to assist with managing the compliance of their firm. This comprehensive web-based service will offer our clients unprecedented transparency and visibility across both their data and process activities on a cost-efficient basis,” said Marshall Levin, Vice President and General Manager, Broker Dealer Business Solutions, Broadridge.
Additionally, the web-based compliance solution will also integrate patented technology for data aggregation and data quality offered by Investigo®. Investigo was acquired by Broadridge in July, 2008.
“The recent events in the financial services world have highlighted the correlation between compliance and reputational risk. In the competition for market share, financial institutions simply cannot risk the damage to reputation, client trust resulting from financial crime and illicit activity. Financial institutions will benefit from the combination of Broadridge’s outsourcing solutions and Oracle Mantas capabilities. Together, these firms will provide a comprehensive compliance solution for the industry,” said Kiran Narsu, Vice President – Global Sales for Mantas and Reveleus at Oracle Financial Services Software.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 14 countries.
For more information about Broadridge, please visit www.broadridge.com.
About Oracle Financial Services Software Limited
Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest enterprise software company. For more information, visitwww.oracle.com/financialservices.
JC Public Relations, Inc
Broadridge Financial Solutions, Inc.