To assist in streamlining their securities finance offering, FinClear, the wealth management infrastructure provider in Australia, has chosen Broadridge Financial Solutions, Inc. (NYSE:BR).
As mentioned in a release, Broadridge’s Securities Finance and Collateral Management (SFCM) FastStart solution offers FinClear and its clients “with enhanced functionalities in this area of the business.”
Darren Crowther, GM at Broadridge’s SFCM, stated:
“We are pleased to add FinClear to our growing client base in APAC. In the ever changing landscape of securities finance, financial institutions need to react quickly in order to trade new products, access new streams of revenue, and service an ever expanding customer base. At its core, SFCM FastStart promotes simplification and streamlining of securities finance, allowing our clients to benefit from effortless integration and automation, with the ability to grow and scale while meeting increased market and regulatory requirements.”
Broadridge SFCM is a described as a functionally complete front-to-back SaaS solution for securities finance, used across the buy- and sell-side stock lending, repo, and collateral trading markets.
Customers such as FinClear can gain access to SFCM through the SFCM FastStart program, which offers a core securities finance foundation “at a low price point and with a minimal initial integration footprint, ready for use, and for phased expansion of integration and automation as business grows.”
FastStart has given companies the option to enhance their existing securities finance businesses or expand into international markets and opportunities “with a core foundation that can be scaled up and built upon as the business grows.”
Andrea Marani, COO at FinClear, remarked:
“Securities finance is an important hedging, liquidity, and revenue enhancement tool for many FinClear clients. Broadridge SFCM allows us to offer additional functionalities and enhanced processes, delivering a greater experience for our customers.”
As noted in a release, FinClear is a tech and financial market infrastructure firm. In addition to operating its own HIN platform, FinClear “enables fintechs, wealth and stockbroking entities to innovate, through the provision of platform technology solutions and market access.”
FinClear either directly trades, clears and settles or “provides technology that services more than 50% of all retail equity transactions every day in Australia and hosts over $130 billion in direct HIN investments for end clients.”