Accenture and Broadridge Jointly Launch Post-Trade Processing Solution to Help Banks Operating in Europe and Asia Transform their Operations
Accenture (NYSE: ACN) and Broadridge Financial Solutions (NYSE: BR) have
launched Accenture
Post-Trade Processing, a solution to help banks operating in Europe
and Asia-Pacific reduce post-trade processing costs, adapt to new
regulations and technology, and quickly and efficiently launch new
products and enter new markets. The solution provides post-trade
processing and technology services to support settlement, books and
records, asset servicing, operational management and control, real-time
data access and administrative accounting.
Accenture Post-Trade Processing, a strategic collaboration between
Accenture and Broadridge Financial Solutions, combines Accenture’s
global business process outsourcing capabilities and global capital
markets industry expertise with Broadridge’s leading post-trade
processing technology. Accenture and Broadridge have designed the
solution to also accommodate other technology to support certain
functions, such as reconciliations and corporate actions processing,
which is provided by SmartStream, another key alliance partner of
Accenture.
In conjunction with the launch of Accenture Post-Trade Processing,
Accenture is also announcing that Societe Generale Corporate &
Investment Banking (SG CIB) is the first client of the solution. The
Accenture Post-Trade Processing solution will be used to optimize and
manage back-office securities processing for SG CIB. As part of the
initiative, a number of SG CIB employees with post-trade processing
skills relevant in more than 50 financial markets are expected to join
Accenture.
“The global investment banking industry is at a crossroads, with
regulatory, market and technological pressures changing the economics of
the business and leading banks to fundamentally reassess their operating
models,” said Bob Gach, global managing director of Accenture’s Capital
Markets industry practice. “Post-trade processing plays a vital role in
client service, but represents a significant and often stubbornly fixed
cost for banks. Our new solution provides the efficiencies, scalability
and regulatory capabilities in post-trade processing that can help banks
rebuild their business models around more profitable services and
differentiate them from the competition.”
“Societe Generale Corporate & Investment Banking and Accenture share the
same vision of what could be the future model for securities processing
among investment banks: industrializing some services by mutualizing
processing activities and costs across multiple institutions,” said
Christophe Leblanc, Chief Operating Officer, Societe Generale Corporate
& Investment Banking. “We are happy to be the first client of Accenture
Post-Trade Processing, a pioneering solution that sets a new industry
standard for efficiency in securities post-trade processing, and which
will enable us to deliver top quality services to our clients.”
“Investment banks need to transform and are actively seeking solutions
that help them enter new markets and comply with regulatory changes, all
while meeting client demands,” said Steve Racioppo, Chief Revenue
Officer, Broadridge Financial Solutions. “With Broadridge’s technology
as the engine behind the solution and Accenture’s expertise in capital
markets, we can see this solution becoming the industry standard for
post-trade processing.”
“This collaborative effort, which brings deep market expertise and
technology to create a shared service solution for multiple clients,
exemplifies the customer-focused thinking that will transform the
industry,” said Philippe Chambadal, CEO of SmartStream.
Accenture Post-Trade Processing will offer scalable, cost-efficient
securities processing based on Broadridge’s proven technology and
Accenture and Broadridge’s combined industry-leading practices for cash
equities, bonds, notes and warrants. By mutualizing activities and costs
from multiple institutions, the solution is designed to:
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Reduce cost-per-trade by leveraging collective trade volumes.
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Optimize performance with access to real-time information regarding
collective trading activity.
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Reduce the complexity and resources required to comply with current
and emerging trading and accounting regimes, including regulations
such as TARGET2-Securities (T2S) and Central Securities Depository Regulation
(CSDR) /T+2.
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Provide a common, standardized and highly flexible operating platform
that enables clients to quickly and efficiently launch new financial
products and enter new markets without the hurdles of legacy IT
systems.
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Process and settle securities transactions for more than 50 financial
markets globally.
“Our goal is to set a new industry standard for post-trade processing
efficiencies,” said Eugenio Bonomi, senior managing director and head of
Accenture Post-Trade Processing. “By mutualizing costs across a large
volume of trades from multiple institutions, Accenture Post-Trade
Processing will enable banks of all sizes to limit the need for capital
investment and affordably address their clients’ securities processing
needs.”
About Accenture
Accenture is a global management consulting, technology services and
outsourcing company, with more than 266,000 people serving clients in
more than 120 countries. Combining unparalleled experience,
comprehensive capabilities across all industries and business functions,
and extensive research on the world’s most successful companies,
Accenture collaborates with clients to help them become high-performance
businesses and governments. The company generated net revenues of
US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page
is www.accenture.com.
Accenture Post-Trade Processing expands Accenture’s support for banks,
adding a technology and BPO solution for post-trade processing to Accenture
Trading Services – a business service within Accenture’s Financial
Services operating group that provides consulting, technology and BPO
services to help banks increase efficiencies at every stage of the
trading lifecycle.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider
of investor communications and technology-driven solutions for
broker-dealers, banks, mutual funds and corporate issuers globally.
Broadridge’s investor communications, securities processing and
operations outsourcing solutions help clients reduce their capital
investments in operations infrastructure, allowing them to increase
their focus on core business activities. With 50 years of experience,
Broadridge’s infrastructure underpins proxy voting services for over 90%
of public companies and mutual funds in North America, and processes
more than $4.5 trillion in fixed income and equity trades per day.
Broadridge employs approximately 6,200 full-time associates in 13
countries.
For more information about Broadridge, please visit www.broadridge.com.
About SmartStream
SmartStream provides Transaction Lifecycle Management (TLM®) software
solutions and Managed Services to dramatically transform the middle and
back-office operations for financial institutions. Over 1,500 clients,
including more than 70 of the World's top 100 banks, 8 of the top 10
asset managers, and 8 of the top 10 custodians rely on SmartStream’s
solutions.
SmartStream delivers greater efficiency, automation and control to
critical post trade operations including: Reference Data Operations,
Trade Process Management, Confirmations and Reconciliation Management,
Corporate Actions Processing, Fees and Invoice Management, Cash &
Liquidity Management and Compliance solutions. Used independently or as
a suite of solutions and services, clients gain a lower
cost-per-transaction while reducing operational risk, aiding compliance
while improving customer service levels.
For more information about SmartStream and our solutions visit: www.smartstream-stp.com.
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and solutions in response to changes in technology and client demand;
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client data and company data or information systems as obligated by law
or contract or if the company’s information systems are breached; the
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with clients if subcontractors or the third parties with whom the
company partners cannot meet their commitments on time or at all; the
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property rights of others or the company might lose its ability to
utilize the intellectual property of others; the company has only a
limited ability to protect its intellectual property rights, which are
important to the company’s success; changes in the company’s level of
taxes, and audits, investigations and tax proceedings, could have a
material adverse effect on the company’s results of operations and
financial condition; the company’s profitability could suffer if its
cost-management strategies are unsuccessful; if the company is unable to
collect its receivables or unbilled services, the company’s results of
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the company’s share price could fluctuate and be difficult to predict;
as well as the risks, uncertainties and other factors discussed under
the “Risk Factors” heading in Accenture plc’s most recent annual report
on Form 10-K and other documents filed with or furnished to the
Securities and Exchange Commission. Statements in this news release
speak only as of the date they were made, and Accenture undertakes no
duty to update any forward-looking statements made in this news release
or to conform such statements to actual results or changes in
Accenture’s expectations.
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