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Challenges in Asset Servicing

Broadridge’s Samir Pandiri talks to Global Custodian about the primary challenges in today’s asset servicing world.

In a video interview with Global Custodian at Sibos, Broadridge’s Samir Pandiri explores the principal challenges in today’s global asset servicing landscape and discusses what Fintech innovation is available to help firms adapt.

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John Watkins [00:00:04] Hello, I'm John Watkins, the managing editor of Global Custodian, and I'm delighted to be joined at Sibos today by Samir Pandiri of Broadridge. Samir, Welcome

Samir Pandiri [00:00:13] John. Thank you very much.

John Watkins [00:00:14] As always, asset servicing core topics for Sibos, what you see as the principal challenges this year in asset servicing? 

Samir Pandiri [00:00:21] You know, one of the biggest challenges continues to be corporate actions in the asset servicing space. And again, I think there's three issues there. One is if you look at it from a cost perspective, the industry spends over four billion dollars a year. So it's a huge expense. Second, you know, asset servicers need data that's usable and reference about, you know, in a way they can digest and consume that. And that's hard to come by. And then the third is technology and technology obsolescence as technologies get older. 

Samir Pandiri [00:00:50] There's clearly a requirement to update and have the latest technology. 

John Watkins [00:00:54] And obviously some fascinating examples of fintech innovation. What examples are you seeing out there in asset servicing? 

Samir Pandiri [00:01:03] There's so many great things that companies like Broadridge are doing, especially if you look at the asset servicing space. You know, we are, for example, making all of our technology available on Amazon Web Services. So if somebody wants a traditional technology model or a cloud-based model or something in between, we allow for that to happen. 

John Watkins [00:01:24] And on the asset servicing theme, obviously something that's going to have a significant impact is going to be the shareholders' rights directive, especially for intermediaries relating to proxy voting. What Tools out there, out there to help firms adapt. 

Samir Pandiri [00:01:40] The SRD2 is probably the most significant regulation that really requires much greater transparency, speed of information, and accuracy between investors and the actual issuers. 

Samir Pandiri [00:01:57] So we at Broadridge, as an example, have developed a shareholders hub where effectively we provide that in a very seamless fashion end to end for all shareholders and all issuers. 

John Watkins [00:02:09] Thanks very much for your comments. Thank you very much.