Broadridge Introduces Its New Cloud-based Reconciliation & Matching Solution

The global Fintech leader Broadridge Financial Solutions, Inc. (Broadridge), announced that it has launched BRx Match, a holistic cloud-based reconciliation and matching solution, to deal with reconciliation and data integrity challenges.

According the the company, BRx Match was developed as an all-in-one reconciliation platform, solving both complex and simple reconciliations, and putting the power of an enterprise reconciliation solution into the hands of business-users. The platform automates the entire reconciliation process from the earliest point, resulting in improved efficiency, transparency and accuracy, while reducing risk and total cost of ownership.

Alastair McGill, General Manager of Data Control Solutions at Broadridge, stated: "As global regulatory requirements become more complex and increasing transaction volumes demand greater operational efficiency and risk management, BRx Match allows financial and corporate clients to automate the reconciliation of any data sources and expedite the exception management process. With business-user self-build capabilities, the platform accelerates the onboarding of new reconciliations, thereby reducing total cost of ownership and creating a more responsive operation. BRx Match is the latest example of how Broadridge is streamlining the front-to-back environment for our clients through easing data integration and simplifying and accelerating the reconciliation and exception management process."

Traditional reconciliation solutions have failed to deliver on the enterprise vision of one tool providing a consolidated and coordinated approach to reconciling data across the business, either for operational or compliance purposes. At present, both reconciliation operations and business users encounter numerous data sources, each with its own specific reconciliation models. BRx Match is the pioneering solution in the field that addresses this problem by streamlining the process of acquiring and transforming data, while offering a comprehensive set of matching rules for various typical reconciliations. Once the data is obtained, users have the option to use different matching engines to achieve the best results. Moreover, business users have the ability to design, create, test, modify, and deploy their own reconciliations through a self-build capability.

BRx Match is designed to be data agnostic, enabling it to perform reconciliation for a wide range of data types including securities, cash, derivatives, reference data, card services, financial, and insurance data. The platform provides control and consistent user experience across the enterprise with full exception management, workflow, consolidated audit trail, and holistic reporting capabilities.

Broadridge further stated in the announcement: "BRx Match is non-disruptive for Broadridge's existing clients. All clients will receive the BRx Match UI and product enhancements as part of their roadmap and will have the option to introduce the new self-service capability."

Furthermore, the fintech leader this week also announced the launch of its cutting-edge digital communications platform, the Broadridge Communication Cloud​. This platform empowers financial intermediaries to revolutionize their service levels by offering investors enhanced customer experiences (CX) and data-centric insights, all while significantly reducing costs.