Broadridge Enhances Operational Resilience Solutions
Broadridge Financial Solutions, Inc. (NYSE: BR) has launched an upgraded suite of services and solutions specifically designed to enhance operational resilience in international post-trade processing. Amid the rising complexity of cyber threats and increasing regulatory demand, these services enable firms to comply with key regulations, including the European Union's Digital Operational Resilience Act (DORA). This suite is aimed not only at banks and brokers utilizing Broadridge's post-trade processing solutions but also at broader sectors to improve their operational capabilities.
Importance of Timely Compliance
Danny Green, who heads International Post-Trade Solutions at Broadridge, emphasizes the urgency of DORA compliance, noting that the deadline is swiftly approaching. Non-compliance poses a significant risk for financial institutions, heightening their vulnerability to cyber incidents and potentially leading to severe reputational harm and regulatory penalties. This has underscored the necessity for firms to rapidly advance their compliance strategies, focusing on both internal audits and evaluations of external partnerships.
Enhanced Services for Business Continuity
Broadridge’s offerings are designed to help firms manage and share the costs associated with maintaining business continuity in an era marked by increasing cyber threats. Their operational resilience services provide financial entities with a collaborative pricing approach to ensure compliance with DORA and similar international frameworks.
Key Features of Broadridge's Solutions
Broadridge’s enhanced operational resilience capabilities include:
- Expert Professional Services: These services feature specialized professionals who utilize advanced analytical tools to thoroughly evaluate and validate firms' risk management frameworks. This involves detailed assessments to pinpoint potential vulnerabilities within both internal structures and third-party systems, followed by recommendations tailored to boost operational efficiency.
- High-Availability Recovery Framework: The solutions ensure that firms have robust backup environments strategically positioned away from primary sites to meet predefined recovery time objectives. This capability significantly reduces system recovery times, potentially from hours down to mere minutes in the wake of an incident.
- Comprehensive System Infrastructure Recovery: Broadridge has enhanced its system infrastructure recovery capabilities, allowing for a thorough and secure restoration of critical data assets. By utilizing secure and immutable storage solutions, the firm can preserve unaltered snapshots of a client’s international post-trade environment, ensuring rapid and effective recovery after a cyber disruption.
About Broadridge Financial Solutions
Broadridge Financial Solutions (NYSE: BR) is recognized as a global technology leader, empowering clients within the financial services sector to optimize their operations and drive innovation. The firm plays a crucial role in facilitating investing, governance, and communication, which fortifies operational resilience and enhances business performance.
Broadridge processes over 7 billion communications annually and supports daily trading activities exceeding $10 trillion in global securities. The company prides itself on being a certified Great Place to Work® and is an integral part of the S&P 500® Index, employing a skilled workforce of over 14,000 associates across 21 countries. For more comprehensive insights about their services, prospective clients are encouraged to explore the company's website.
Contact Information for Broadridge
If you're a potential investor or media representative, Broadridge encourages you to reach out directly for more information. Edings Thibault serves as the Head of Investor Relations, and Gregg Rosenberg heads the Corporate Communications team at Broadridge. They are equipped to provide further details about the company's ongoing initiatives and strategic plans.
Frequently Asked Questions
What is Broadridge's main focus?
Broadridge primarily focuses on delivering technology solutions that enhance operational efficiency and resilience within the financial services industry.
What does DORA compliance involve?
DORA compliance involves adhering to operational resilience standards set by the European Union, aimed at preventing cyber disruptions and ensuring business continuity.
How does Broadridge help financial firms manage cyber threats?
Broadridge's services include risk assessment, high-availability recovery options, and enhanced system infrastructure recovery solutions that collectively help mitigate cyber threats.
What are the benefits of Broadridge's shared services pricing model?
This model allows firms to mutualize costs related to compliance and operational risk management, making it more cost-effective to maintain resilience against cyber threats.
How can I learn more about Broadridge's offerings?
To gain more insights into Broadridge's range of solutions, prospective clients should visit the company's official website for detailed information and resources.
