Broadridge Financial Solutions has introduced a new cloud-based reconciliation and matching platform called BRx Match. This platform is designed to address the challenges associated with reconciliation and data integrity in the financial industry. Here are some key points about BRx Match:
- Empowering Business Users: BRx Match is intended to empower business users by offering self-build capabilities. This means that users can create and customize reconciliation processes, making it easier to onboard new reconciliations, reduce ownership costs, and enhance operational responsiveness. This approach shifts some of the control and flexibility from IT departments to business users themselves.
- Addressing Complex Reconciliation: The platform is geared towards addressing complex reconciliation processes that are necessary in the financial industry. As global regulatory requirements become more intricate and transaction volumes increase, BRx Match aims to automate reconciliation tasks and expedite exception management.
- Data Integrity: Data integrity is a critical aspect of financial operations, and BRx Match emphasizes maintaining data integrity throughout the reconciliation process. This ensures that the data used in financial operations remains accurate and reliable.
- Versatility: BRx Match is versatile and offers a set of fundamental matching rules that can cater to a wide range of reconciliation needs. It also provides various matching engines, giving businesses the flexibility to choose the one that suits their specific requirements.
- Data Agnosticism: One of the notable features of BRx Match is its ability to reconcile across various types of data, including securities, cash, derivatives, reference data, card services, financial, and insurance data. This flexibility enables businesses to consolidate and coordinate reconciliation efforts across diverse data sources.
- Streamlining the Reconciliation Process: The platform simplifies data integration and allows users to design, build, test, modify, and deploy their reconciliation processes with ease. It aims to streamline the front-to-back environment for clients, ultimately improving operational efficiency and transparency.
- Departure from Traditional Solutions: BRx Match represents a departure from traditional reconciliation solutions that may struggle to meet the evolving demands of the financial industry. By providing more control and adaptability to users and offering a holistic data acquisition and transformation approach, it aims to address modern business challenges effectively.
In summary, BRx Match by Broadridge Financial Solutions is a cloud-based reconciliation and matching platform designed to empower business users, enhance data integrity, and streamline complex reconciliation processes in the financial industry. It offers versatility, data agnosticism, and a user-friendly approach to reconciliation, marking a significant step forward in addressing the challenges faced by businesses in this sector.