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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, Inc. (NYSE: BR), a $4.5 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $10 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 12,000 associates in 17 countries.
For more information about Broadridge, please visit www.broadridge.com
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