Hamburg Commercial Bank Selects Broadridge’s Payments As a Service

Fintech major Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Hamburg Commercial Bank, a commercial bank in northern Europe, has selected its Payments as a Service to transform international payments processing for corporate clients.

According to the official press release, Broadridge’s Payments as a Service will enable the bank to achieve significantly higher levels of operational efficiency through best-in-class straight-through processing and the dynamic resolution of processing exceptions.

In addition, it will also provide the scalability to grow, capture new revenue streams and enhance the quality and range of client services without capacity or resource constraints. Hamburg Commercial Bank will also benefit from a more agile response to the ongoing challenges in payments driven by regulatory and dynamic market changes.

"This payment service solution is another important contribution to our transformation, and it will make Hamburg Commercial Bank even more efficient. Our customers will benefit from this best-in-class technology platform, which our strong business operations team, together with Broadridge and PPI, will continue to build out over the coming months," said Stefan Ermisch, CEO of Hamburg Commercial Bank.

“To address client processing requirements and support the industry with the evolving regulatory and market infrastructure landscape, we have made a significant investment in building out our payments architecture and operating model,” said Samir Pandiri, President, Broadridge International. “We believe there are several hundred banks in Europe that can take advantage of this unique, modern and differentiated service to increase automation, reduce cost and risk, and manage regulatory change.”

​As Fazzaco reported earlier, Broadridge posted its financial figures for the fourth quarter and fiscal year 2021​. The fintech reported total revenues of $1,532 million, 12% higher than the prior year's $1,362 million. Operating income reached $281 million, decreased by 6% compared to the same period in 2020.