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New York, N.Y., November 16, 2020 - Broadridge Financial Solutions, Inc., a global Fintech leader and pioneer in virtual shareholder meetings (VSM), has announced the first phase of its enhanced VSM platform. This next generation of VSMs will increase accessibility, transparency and engagement to meet the rising expectations of corporate issuers, mutual funds and shareholders. As part of the initial phase, Broadridge has made extensive investments and developed Application Programming Interfaces (APIs) which will enable Broadridge to validate beneficial shareholders who log on to other virtual meeting platforms.
“Broadridge’s plan to enhance its VSM technology will include a next-gen user interface, streamlined navigation and a better experience for all participants, including management, board members and shareholders,” said Cathy Conlon, Vice President of Strategy, Product Management and Business Development, Broadridge. As part of an industry working group examining virtual shareholder meetings, there is movement towards creating an open source validation framework to enable issuers to choose any virtual meeting platform and have their shareholders validated onto it. Broadridge is leading that effort and has made extensive investments and developed APIs that will enable this vision for the 2021 proxy season.”
Broadridge is on track to facilitate almost 2,000 VSMs in 2020, up from 326 meetings in 2019. Following the unprecedented usage of VSMs in the 2020 proxy season, Broadridge sought feedback from more than 100 VSM clients, investors and other industry constituents. As a result of this outreach, Broadridge identified three priority areas of focus and developed a comprehensive roadmap for enhancing the participant experience, company management of the meeting and the Q&A experience to provide more transparency for both issuers and shareholders. The focus on these priorities will create a better experience for all participants, including management, board members and shareholders. This new experience is expected to be rolled out over the next several months and will include:
Broadridge has a long history of working with issuers, mutual funds, broker-dealers and institutional and retail investors and in investing in and leveraging technology to drive transparency and shareholder engagement. From inventing telephone proxy voting and developing online proxy voting to launching a mobile proxy voting and creating a voting app, Broadridge has proven track record of innovation, utilizing the latest technology to transform and enrich customer experience, optimize efficiencies and drive shareholder engagement. The company will continue providing shareholders with the power to vote on whichever platform they choose, including through a VSM, their broker’s app, on a desktop or mobile browser via Proxyvote.com, by phone, by mail or in-person at annual meetings.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
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