NEW YORK, Jan. 14, 2020 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. [NYSE:BR], a global Fintech leader
and part of the S&P 500® Index, and
IBM Services [NYSE:IBM], today 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
CloudTM powered by IBM and will transition a
significant portion of its global infrastructure to IBM. This key
milestone in its cloud strategy will enable Broadridge to better
provide powerful industry solutions to leading financial
institutions around the world, with 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 industry leading technology infrastructure. Today's
announcement marks Broadridge's move of its mission-critical
workloads to the cloud with IBM, to help further transform the
financial services industry. 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.
"The Broadridge Private Cloud powered by IBM, will increase
our ability to more rapidly deliver next-gen and mission-critical
solutions to our clients around the world," said Mark Schlesinger, Broadridge's Chief Information
Officer. "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)," Mr.
Schlesinger added.
"We look forward to bringing the power of IBM's hybrid cloud
capabilities and financial services industry experience to
Broadridge's mission-critical infrastructure that powers the global
financial markets," said Rodrigo Kede
Lima, General Manager, IBM Global Technology Services. "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.
IBM is bringing its deep financial services industry experience
to help generate long term value to Broadridge and its clients.
Over this multi-year agreement, IBM will help modernize
Broadridge's infrastructure to provide automated private cloud
services for its critical workloads. In addition, IBM cloud will
provide new application development capabilities for Broadridge's
businesses. As Broadridge continues to develop and deploy new
applications in the cloud, IBM will also assist with design and
migration services along with its ongoing support.
IBM and Broadridge Financial signed this transaction in IBM's
fourth quarter of 2019.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR), a $4 billion global Fintech leader, is a
leading provider of investor communications and technology-driven
solutions to banks, broker-dealers, asset and wealth managers and
corporate issuers. Broadridge's infrastructure underpins proxy
voting services for over 50 percent of public companies and mutual
funds globally, and processes on average more than $7
trillion in fixed income and equity securities trades per day.
Broadridge is part of the S&P 500® Index and employs
over 11,000 associates in 18 countries. For more information about
Broadridge, please visit www.broadridge.com.
About IBM Cloud
With over $20B in annual cloud
revenue, IBM has built a leading enterprise hybrid cloud business.
This includes a comprehensive range of as-a-service offerings,
software, hardware and professional services that enable IBM to
advise, move, build and manage cloud solutions across public,
private and on-premises environments. Through its global network of
more than 60 cloud data centers across 19 countries and 18
availability zones across 6 regions, IBM public cloud helps
enterprises in all industries to meet security, resiliency,
performance, and global deployment requirements. Built on an open
source, multitenant environment, clients have secured access to an
enterprise-grade IaaS and a leading PaaS that provides them with
the latest developer capabilities and ready-to-go innovation
engines. This includes more than 190 cloud-native APIs, such as AI,
blockchain, IoT, serverless and quantum computing, and consistent
function all the way to the edge. Several financial institutions
including BNP Paribas, Bank of America, Westpac and others
are already working with IBM on their public cloud journey.
BNP has strengthened its ability to subscribe to "As a
Service" IT services through the IBM public cloud.
For more information, visit https://www.ibm.com/cloud/public
Forward-Looking Statements
This press release
may contain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Statements that
are not historical in nature and which may be identified by the use
of words such as "expects," "assumes," "projects," "anticipates,"
"estimates," "we believe," "could be" and other words of similar
meaning, are forward-looking statements. These statements are based
on Broadridge management's expectations and assumptions and are
subject to risks and uncertainties that may cause actual results to
differ materially from those expressed. Factors that could cause
actual results to differ materially from those contemplated by the
forward-looking statements include:
- the success of Broadridge in retaining and selling additional
services to its existing clients and in obtaining new
clients;
- Broadridge's reliance on a relatively small number of clients,
the continued financial health of those clients, and the continued
use by such clients of Broadridge's services with favorable pricing
terms;
- material security breach or cybersecurity attack affecting the
information of Broadridge's clients;
- changes in laws and regulations affecting Broadridge's clients
or the services provided by Broadridge;
- declines in participation and activity in the securities
markets;
- the failure of Broadridge's key service providers to provide
the anticipated levels of service;
- a disaster or other significant slowdown or failure of
Broadridge's systems or error in the performance of Broadridge's
services;
- overall market and economic conditions and their impact on the
securities markets;
- Broadridge's failure to keep pace with changes in technology
and the demands of its clients;
- the ability to attract and retain key personnel;
- the impact of new acquisitions and divestitures; and
- competitive conditions.
There may be other factors that may cause Broadridge actual
results to differ materially from the forward-looking statements.
Broadridge's actual results, performance or achievements could
differ materially from those expressed in, or implied by, the
forward-looking statements. Broadridge can give no assurances that
any of the events anticipated by the forward-looking statements
will occur or, if any of them do, what impact they will have on our
results of operations and financial condition. You should carefully
read the factors described in the "Risk Factors" section of
Broadridge's Annual Report on Form 10-K for the fiscal year ended
June 30, 2019 for a description of
certain risks that could, among other things, cause Broadridge's
actual results to differ from these forward-looking statements.
All forward-looking statements speak only as of the date of this
press release and are expressly qualified in their entirety by the
cautionary statements included in this press release. Broadridge
disclaims any obligation to update or revise forward-looking
statements that may be made to reflect events or circumstances that
arise after the date made or to reflect the occurrence of
unanticipated events, other than as required by law.
Contact
Information
Investors:
W. Edings Thibault
Investor Relations
(516) 472-5129
Media:
Gregg
Rosenberg
Corporate Communications,
Broadridge
(212) 918-6966
Kaveri Camire
Communications, IBM
kcamire@us.ibm.com
(914) 625-6395
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SOURCE Broadridge Financial Solutions, Inc.