Lake Success, New York – June 12, 2008 – Broadridge Financial Solutions, Inc. (NYSE: BR), a leading global provider of technology-based outsourcing solutions to the financial services industry, has received the prestigious Windows in Financial Services 2008 Innovators Award for its leadership in providing solutions that deliver results utilizing Microsoft technologies. The company was awarded top honors for Ascendis, Broadridge’s business process management solution suite, which employs Microsoft technology to enable brokerage firms to increase their operational productivity and efficiency.
Broadridge was recognized by the technology magazine Windows in Financial Services as one of four winners to use Microsoft technology to solve practical business problems faced by companies working in the competitive securities and capital markets industry today. The awards were presented last night at Microsoft’s customer and partner reception held at the Securities Industry and Financial Management Association (SIFMA) Technology Management Conference.
“We are extremely proud to receive this award in recognition of Ascendis and its technology, which we believe is really changing the securities industry by enabling firms to refocus resources and energy toward their core business,” said Charlie Marchesani, President, Securities Processing Solutions US, Broadridge. “We worked for more than two years on Ascendis utilizing Microsoft ASP.net to streamline firms’ processes and make them more cost-efficient,” continued Mr. Marchesani. “We are pleased that Ascendis, and the seamless efficiencies it delivers to securities operations departments globally, has been recognized by such a well-regarded magazine as both innovative and practical – critical accomplishments we strive to achieve when we develop products for our clients.”
So far Broadridge has launched the first four of a suite of 16 applications for Ascendis, which automates between 70% to 90% of brokerage operations. The technology is designed to automatically handle most operations tasks and route only the discrepancies to operations staff, providing them with the tools to solve problems, such as trade breaks. The applications automate credit risk, administration, corporate actions, balancing and reconciliation and dividends distribution to facilitate greater workflow efficiency, productivity and cost-savings. The next 3 Ascendis applications are expected to be rolled out within the next three months.