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Innovations in Blockchain and Artificial Intelligence

How Broadridge is applying new technologies to drive benefits for our clients.

Innovations in Blockchain and Artificial Intelligence

Disruptive technologies like blockchain and artificial intelligence (AI) have the potential to transform business — and we are assessing how they can be best applied to drive benefits for our clients. Our investment in the application of these technologies across startups, internal prototypes and client collaboration has positioned us to help clients accelerate adoption. This report outlines our strategy and highlights our innovations in this space so far.

Broadridge, a global fintech leader with $6 billion in revenue, provides communications, technology, data and analytics solutions to help clients get ahead of today’s challenges and capitalize on what’s next. Backed by global resources, we help drive business transformation with solutions for enriching client engagement, navigating risk, optimizing efficiency and generating revenue growth.

Broadridge has made significant investments in blockchain and AI. We are leveraging our deep expertise in post-trade and scale across our extensive network of clients to assess where these new technologies can be applied to drive benefits for our clients.

Invest in leading blockchain startups
  • Invested in startups with unique blockchain engineering and capital markets expertise, including Digital Asset given focus on cash securities
  • Acquired technology assets of InveShare to accelerate development of blockchain U.S. proxy platform
  • Built relationships with leading innovators, such as Hyperledger and Enterprise Ethereum Alliance
Invest internally across a number of prototypes
  • Built blockchain lab consisting of associates spanning strategy, business and technology functions
  • Executed several prototypes, including whether blockchain can drive a "step-change" in process improvement and whether Broadridge is uniquely positioned to drive adoption to mutualize industry costs
Co-innovating with clients in specific areas
  • Engaged multiple clients in discussions on blockchain innovation in specific areas where Broadridge has deep understanding of client technology and operational processes
  • Inviting select clients to collaborate on specific use cases

Broadridge is uniquely positioned to help you accelerate your blockchain efforts

Deep capital markets expertise: Broadridge is a trusted global partner to the largest financial institutions for their securities trade processing needs.

  • We process $10 trillion in equity and fixed income trades per day globally.
  • We are the market leader in global fixed income trade processing in the U.S., processing trades for 18 of the 23 U.S. primary dealers for fixed income and seven of the top 10 global investment banks for equities.

Experienced developer in blockchain technology: We have focused on a number of applications of blockchain technology that can provide a step change in process improvement:

Repos : We successfully completed a pilot in October 2017 with Natixis, Societe Generale and another Tier 1 bank which leverages blockchain technology to enhance the operational efficiency and auditability of bilateral repurchase, or repo, agreements. The pilot utilizes distributed ledger technology capabilities to reduce operational risk for market participants by providing a secure record of repo trade details, reducing the need for reconciliation and removing obstacles to straight through processing.

Proxy : In April 2017, we successfully completed a pilot with J.P. Morgan, Northern Trust and Banco Santander that employs blockchain technology to enhance global proxy vote transparency and analytics.

The pilot adapts distributed ledger technology capabilities to enhance transparency and insight into vote progress throughout the issuer’s proxy voting period, from meeting announcement date to the annual general meeting (AGM). The application ensures role-based access to voting data through use of cryptography and smart contract technology and is built on an Ethereum blockchain platform. Learn more.

Active contributor to key industry blockchain protocols: Our developers are contributors to the most widespread open-source blockchain protocols, such as Hyperledger, Ethereum and Quorum.

Artificial intelligence

Broadridge has been investing in AI, including Machine Learning (ML) and Robotic Process Automation (RPA). We have established a Center of Excellence for AI/ML and RPA with industry leading talent. We are leveraging our deep expertise in post-trade, significant scale across our network of clients and view of industry data to assess where ML and RPA combined could be applied to drive benefits for our clients.

We have piloted and implemented a number of use cases across Broadridge. Here are a few examples.

  • Trade allocations: We interpret the trade allocation requests that arrive in structured or unstructured form and then process the allocations automatically using ML and RPA.
  • Securities finance supply and demand: This solution enables data mining from emails with offers, needs or location/hold requests. It collates information from a range of data sources, including securities available for borrow/loan or needed for settlement, short-selling or any other purpose.
  • Accounting Statements: The AI solution interprets unstructured statements from custodians and automates processing in the investment accounting system, streamlining a manual process to reduce review time from weeks to minutes and significantly improving data quality.