LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--
Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that its
recently acquired business, Broadridge City Networks, has signed DBS
Bank as a new user of the PROactiveTM Reconciliation
solution. The Broadridge City Networks solution will support DBS,
headquartered in Singapore and one of the largest financial services
groups in Asia, for its cash reconciliation requirements across multiple
locations in the Asia region.
DBS reviewed a number of suppliers to provide a new reconciliation
solution in Asia due to their existing reconciliation system approaching
the end of its lifespan and support. “DBS selected PROactive
Reconciliations due to its clear and competitive pricing, positive user
feedback in the region and the fact that its screens and configuration
tools are user-friendly and easy for new users to understand quickly,”
said Mr Ong Chin Cheong, Assistant Vice President, Technology &
Operations, DBS Bank.
Another principal reason behind DBS’ selection of the Broadridge
solution was its ability to offer a fixed-price implementation service
together with a fast-track installation. “The bank favours a fixed-price
approach as it shows the vendor is committed to winning the business,
and we believe that it also minimises implementation risk. It is
important that we avoid implementation delays or the costs escalating
beyond budget,” said Mr Ong.
Broadridge offers the fixed scope, fixed price approach to the
implementation of its PROactive suite of solutions in order to
give clients the choice between a proven, standard implementation or a
more tailored implementation for clients preferring differentiation.
Broadridge City Networks’ PROactive Reconciliation solution
provides configurable modules for both internal and external
reconciliation across cash, payments and multi-asset capital markets
transactions, as well as an increasingly popular liquidity management
solution for ensuring best use of intra-day funds.
“Using the most suitable fixed price package, the scope of the client’s
requirements can be agreed upon regardless of business area or scale.
Our packages, based on years of experience with similar projects, ensure
that we can provide a very clear indication to our clients of the
functionality and resourcing we recommend. All non-standard aspects can
be highlighted very early in the relationship and a tailored
specification provided as required,” commented Akhter Khan, Managing
Director, Asia, Broadridge City Networks. “We are pleased that this
approach has been so successful for DBS. The project took three months
and came in within the strict timescale needed due to the tight
deadlines to decommission its incumbent system. We are proud that
Broadridge City Networks was able to meet these short timelines,” he
concluded.
About Broadridge
Broadridge is a technology services company focused on global capital
markets. Broadridge is the market leader enabling secure and accurate
processing of information for communications and securities transactions
among issuers, investors and financial intermediaries. Broadridge builds
the infrastructure that underpins proxy services for over 90% of public
companies and mutual funds in North America; processes more than $3
trillion in fixed income and equity trades per day; and saves companies
billions annually through its technology solutions. For more information
about Broadridge, please visit www.broadridge.com.
Source: Broadridge Financial Solutions, Inc.