Broadridge Financial Solutions announced the launch of BRx Match, a holistic cloud-based reconciliation and matching solution that tackles both reconciliation and data integrity challenges. It 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.
“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,” said Alastair McGill, general manager of Data Control Solutions at Broadridge, in a statement. “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. Currently, reconciliation operations and business users are faced with a myriad of data sources, each with their own respective reconciliation models.
BRx Match is the first solution in the industry to tackle this issue, simplifying data acquisition and transformation challenges while providing core sets of matching rules for a wide variety of common reconciliations. Having acquired the data, a choice of matching engines can be utilized to obtain the optimum output. Business users can design, build, test, modify, and deploy their own reconciliations with self-build capability. BRx Match is data agnostic, allowing it to perform the widest variety of reconciliation for securities, cash, derivatives, reference data, card services, financial, and insurance data.