Our client, through its recent acquisitions, continued to operate under a license agreement with Broadridge for its BPS product. It was looking to migrate its US equities business off the existing platform and onto the Broadridge Service Bureau offering.
They understood the operational risk associated with the migration as well as the vendor risk. To mitigate this risk, they reviewed alternatives to develop a set of checks and balances on the product implementation decisions that Broadridge resources recommended. Broadridge is a leader in the US markets for front-to-back processing of equities and bonds. The latest versions of their software delivered the required services – as long as these are implemented and configured correctly.
We delivered a detailed gap analysis and implementation plan with phasing and cost estimates, control plan for the monitoring of the outsourced activities.
This project was driven by operational costs and savings were generated through the successful consolidation of all US Equities activities (which had previously been dispersed across various subsidiaries with their own teams and systems) onto one, market-leading technical solution and its operational staff.