Broadridge Financial Solutions and IBM Services announced an agreement to bring new cloud-based solutions to Broadridge’s clients in the financial services industry. As part of this strategic collaboration, Broadridge will create The Broadridge Private Cloud powered by IBM and will transition a significant portion of its global infrastructure to IBM.
Broadridge expects the benefits to be improved speed to market, flexibility, and resiliency. Accelerating its shift to a hybrid cloud model will enable Broadridge to further deliver next-generation SaaS solutions to its clients through its technology infrastructure, and the firm will move its mission-critical workloads to the cloud with IBM.
Leveraging IBM’s open source capabilities allows infrastructure flexibility and will provide Broadridge new opportunities to invest in its application portfolio, adding new capabilities to its market-leading solutions. By implementing Red Hat OpenShift platform, the industry’s most comprehensive Kubernetes platform, Broadridge will also be able to manage workloads across its overall hybrid cloud infrastructure.
Mark Schlesinger, Broadridge’s chief information officer, said in a statement, “Accelerating our cloud strategy will enable clients to leverage an industry-leading, highly flexible and resilient technology platform and allow Broadridge to accelerate our product roadmap, providing our clients with faster access to new industry solutions incorporating the ABCDs of InnovationTM (AI, Blockchain, Cloud, Digital).”
Rodrigo Kede Lima, general manager at IBM Global Technology Services, said in a statement: “The Broadridge Private Cloud, along with the world’s first financial services-ready public cloud, recently launched by IBM, showcases how IBM is working with key clients all over the world to address critical requirements of financial services institutions with regulatory compliance, security and resiliency.”
The financial services industry continues to face challenges from new and existing competitors, generating the constant need for new, innovative products and services. Additionally, increased regulatory and compliance requirements are driving the need for improved security and resiliency. By engaging with IBM, Broadridge and its clients have a service provider with experience in providing hybrid cloud managed services with a keen awareness of the regulatory and compliance demands of the financial services industry globally.