A prominent financial services organization has joined forces with Broadridge Financial Solutions, a noted fintech firm, to enhance its global custody services. This partnership aims to streamline and elevate the provider’s offerings in the realm of global securities class action services.
The head of custody products for the securities division of the organization expressed a strong commitment to innovative and client-centric services. He highlighted that Broadridge, with its cutting-edge technology, robust security measures, and extensive industry knowledge, perfectly aligns with these goals. This collaboration will improve client service by leveraging Broadridge’s technology to assist in the identification, filing, and recovery of investment losses.
Broadridge is set to deliver a comprehensive technology solution tailored for global class action services. This service aims to facilitate clients in determining and capitalizing on asset recovery opportunities. The streamlined process will encompass identifying potential claims, filing them, and initiating the recovery of respective investment losses, all supported by Broadridge’s expertise in the field.
A senior official from Broadridge underscored the increasing volume of securities class actions in recent years. He emphasized the necessity for clients engaged through the financial institution to utilize every asset recovery opportunity available. Broadridge’s solutions are designed to ensure that clients can access vital information to bolster their claims for recovery, encouraging investor engagement in settlements, while efficiently supporting essential operational activities.
The environment for investors seeking recovery options has grown significantly, with an increasing number of jurisdictions around the globe implementing collective redress mechanisms for shareholders. In 2024, data reflected over 125 recovery opportunities totaling $5.2 billion in settlements, emphasizing the need for sophisticated technology and expertise to effectively navigate the complexities of litigation, particularly in challenging legal landscapes.
This strategic partnership seeks to empower clients with enhanced capabilities and insights necessary for making informed decisions regarding class action claims, ensuring that they can fully exploit the opportunities that arise in an evolving financial landscape.