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Broadridge's Innovative Approach to Technology-Driven Excellence.
Speaker 1: And I would welcome to the winner's interviews of this year's cell site Technology Awards. Now, earlier this year, Broadridge won the award for the best outsourcing provider to the sell side, thanks to its hugely successful BPO offering, through which they are. Bryan Hayes, Corporate Core and Collin Kitchell. Thank you all very much for joining me. It's good to see you. Congratulations to the three of you and of course, to Broadridge for this win in this year's SST Awards.
Speaker 2: Yes, absolutely, Victor. I think on behalf of Brian to myself, our entire BPO business and Broadridge, of course, first and foremost, we'd like to thank Waters for this incredible recognition. We recognize wholeheartedly that this industry we're in is quite dynamic and competitive and there's a lot of fantastic players on the street. So we appreciate your recognition in our business as as best in class. And we look forward to speaking with you today about what we're doing, how are evolving and what the future looks like for for BPO and the industry as a whole.
Speaker 1: Yep. Yep. Good. Okay. Well, I'm calling to that end. Let's start by putting the first question on. I'm going to put this one to you, Brian. Let's talk about a broader just BPO offering. As I mentioned, it is, you know, hugely successful across the sell side and also across the buy side. But what I want to know from you is what are the attributes of the service that you believe differentiated from other similar offerings. It's not the only outsourcing service on the market. So what does Broadridge bring to the table that makes it unique in an outsourcing context?
Speaker 3: Bryan Yeah, sure. Good morning, Victor. It's very nice to meet you and thank you for that question. It's one I think I may have a unique perspective on After spending the majority of my career in operations roles at various broker dealers and all the only. Having recently transitioned into my role here in the British BPO team, a few points come to mind when I think about what differentiates us. The first is that we're housed within a broker dealer, which helps to align our control framework and risk management focus with that of many of our clients. It also keeps us plugged in directly with the regulators and industry forums such as Sephora, ensuring we have a seat at the table and voice for any large scale in the industry initiatives or changes that may be on the horizon. The next point would be having an offering that provides technology solutions and operations support under one umbrella and enables our BPO staff to be the best users of our technology anywhere in the world and ensures continuous alignment between a client's I.T and operations staff for any desired small changes or strategic industry initiatives that are occurring, such as things like two plus one. I think the final point would be combining that broker dealer structure and the alignment with technology with a breadth of expertise across markets that we currently operate in over 90 markets around the world with a 24 by six coverage.
Speaker 1: Yeah. Good, good, good. Now, Gurpreet Brian mentioned clients and clearly, you know, outsourcing is it it kind of it is something that is wrapped around clients needs. Right. So let's talk a little bit about those clients needs. What are what a broad Roger's clients kind of looking for right now for from a BPO support perspective, Are there any trends that you have identified over, let's say, the last 12 or so months that Broadridge is currently focused on?
Speaker 4: Sure. So most of the clients are looking for a thought leader in the industry, right? A partner who can help them to achieve their operating models and prepare them for the industry changes. Brian touched upon wrong. We have a. They need people who are in the know, but the industry understand what's happening with the industry and helping them quickly cope up with the changes that are coming up because it not only impacts them, it does impact even their clients. So it's important for us to make sure that we are catering to the needs and everybody in the industry needs to be in touch with what's happening, how quickly it's changing. We also tap into a lot of automation, right? It's something that we've noticed is a pattern, right? Every day it's the same thing that goes through the market. For us, what's important is recognizing those patterns, reengineering the way operation process and optimizing the industry, right? We are looking to automate and to to use AI and make it efficient not only for us, for them and their clients.
Speaker 1: Yeah.
Speaker 4: Over the last few months and years, I'm going to say a lot of things have changed, right? But the pandemic coming on, clients are looking for a global resilient player who can adapt to the market changes and new ways of working. And we have offered that. And it's also opened up an opportunity for us to be flexible and the service model that we currently provide and facilitate and expand the land opportunity such as BPO on demand. Not necessarily do we have to do every function for them, but where they need help. BPO has that expertise because we are in the market, we tap on experience and we are all over the markets be service, APAC, EMEA, North America. So we have that experience and expertise and that's what the market and the clients are looking for.
Speaker 1: Good, good, good. Okay. Final question to you, Kannan. We've spoken about the differentiators. We've spoken about what clients are looking for right now. Let's look to the future a little bit and and focus on where BPO is going. From broadest perspective, we know that outsourcing needs in the services, addressing those needs are constantly changing. The industry is in a state of flux, right? What new aspects and or enhancements of the BPO service is Broadridge looking to kind of focus on right now and what can and I suppose this the kind of the crux of the question what can the firm's outsourcing clients look forward to in the foreseeable future?
Speaker 2: Yeah, it's a great question. Victor. Right. And and I want you to echo last recourse that we need to follow Bryan and compete, but. I think you hit the hit the nail right on the head in the opening of your question, Right. I mean, change is is really the only constant in our industry. Right. And as I mentioned in the opening, we're in a very dynamic industry right now from now outsourcing perspective from a broad range in BPO. And ultimately our goal is to stay ahead of that curve, right. And foresee what does the future look like so that we can be on the front end of providing these types of solutions to our clients. So when I when I step back and think about really the niche there in terms of what should clients be looking forward to in the foreseeable future from us, I really think about three things. And to oversimplify it, it's what we're doing, how we're delivering it, and why we're delivering it, right. So the first from a what we're doing, we've taken an incredible venture into expanding our service delivery model and our scope of services that we provide. As you mentioned earlier, Victor, not only to the sell side, but to the buy side. Right. Growing that offering to move up the trade lifecycle to include more currencies, digital assets.
Right. Really looking back at it from an asset class agnostic perspective to say the market is evolving in this way, our service offering needs to capture that movement. Right? So I think first and foremost, our clients and prospective clients in the foreseeable future should expect to see a large growth in our services offered, especially in very niche markets today, that are growing in the industry in terms of, you know, the why we're doing it right, it touches in on. As mentioned, firms are looking for technology and operations mutualization and really what we would consider operations optimization. And by expanding that scope of services, by empowering that scope of services through the use of emerging technologies, AI, innovative toolsets, that fortunately to Brian's point, we have at our fingertips, right, being housed within a fintech firm, broad range, right? We're working to change the way firms are actually working from an operations perspective through these tools. And so expanding the scope of services, really changing the way the work has to be done through driving innovation, through these emerging technologies and reading kind of the industry curve on initiatives like T1, like a cap, understanding how it new Basel three enhancements and changes are going to impact U.S. markets and driving that thought leadership to our clients. That's ultimately our goal in the foreseeable future.
Speaker 1: Good, good, good. Well, it sounds like you got your your work cut out for you, especially around T plus one. Everybody's talking about plus one. Right. And there's also a lot of there's still a lot of uncertainty exactly how it's going to impact firms practically on a day to day basis. But clearly, automation is going to play a massive role in getting them to the point where they can settle trades one day after execution. Right.
Speaker 2: 100% right. And we could probably talk at 4 hours at length on this specific topic, Victor. And you're right. Every every conversation, the industry with our clients t one is going to pop up. You know, Brian, from a domestic settlements perspective and team of have really dug in have an incredible T one playbook partnership with our core settlement engines. We've brought in our kind of digital center of excellence tech to look at. These are the changes that need to happen. How do we optimize those through automation right now to provide scale from an outsourcing perspective in support of our clients, really drive the industry forward?
Speaker 1: Mm hmm. Good. All right. We going to need to leave our conversation. That's been very enjoyable from my perspective. Thank you all for your time. Brian Hayes, good with core and calling the actual. Thank you. And congratulations, of course, to the three of you. And and Broadridge, will this win in this year's Sell Side Technology Awards?
Speaker 2: Thank you very much, Victor. Thank you for having us, as always, Victor.
In this insightful webinar, industry experts Brian Hayes, Gurpreet Kaur, and Collin Kitchell, delve into the heart of Broadridge's award-winning Business Process Outsourcing (BPO) services. They explore the unique attributes that set their services apart in a highly competitive industry, highlighting the importance of aligning technology and operation support, maintaining a global presence, and proactively adapting to industry changes.
The discussion also touches on client needs, current trends in BPO, and Broadridge's future to stay ahead of the curve, offering an engaging discussion for anyone interested in the field of outsourcing and technology solutions.
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+1 800 353 0103 | North America |
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+65 6438 1144 | APAC |