NEW
YORK and LONDON and
FRANKFURT, Germany,
Oct. 17,
2024 /PRNewswire/ -- Broadridge Financial Solutions,
Inc. (NYSE:BR), a global Fintech leader, today announced the launch
of its highly resilient and scalable managed service for
connectivity, message processing and workflow management for
instant payments. The Broadridge service supports real-time money
transfers, operating 24/7/365, with transaction processing times of
under 10 seconds from payer to beneficiary.
Broadridge's Instant Payments Service utilises the Swift
Alliance Gateway Instant (AGI), which offers a highly resilient
infrastructure designed specifically to support instant payments
messages, connecting with SwiftNet Instant to offer 24/7
availability and continuous and efficient exchange of instant
transactions.
"We are thrilled to introduce our new Instant Payments service,
which sets a new benchmark for resiliency and availability in the
financial services industry," said Heidi Dittmar, Head of
Broadridge's Swift services business and Country Head for
Germany. "This innovative
technology stack enables businesses and individuals to benefit from
instant payments across a variety of use cases, from payroll to
refunds, enhancing both operational efficiency and customer
satisfaction."
The launch of Broadridge's Instant Payments service aligns with
recent EU regulations mandating the facilitation of euro instant
credit transfers. These regulations are expected to accelerate the
adoption of instant payments across Europe, with key compliance deadlines set for
2025. Broadridge's infrastructure supports these requirements in
full, ensuring financial institutions are well-positioned to meet
the new standards.
Instant payments are expected to become the industry standard,
particularly for recurring transactions such as bill payments. The
growing adoption of request for payments is anticipated to further
drive this shift, making instant payments the preferred method for
financial services.
While currently focused on the Eurozone, which encompasses 20
countries, Broadridge's Instant Payments service is well-positioned
for global expansion as it adapts to evolving regulatory
requirements and growing customer demand worldwide.
"We're committed to helping financial institutions stay ahead in
an evolving regulatory landscape while delivering seamless,
real-time payment experiences for their customers," said
Kai Marzenell, Director of Swift
Product Management at Broadridge. "Our Instant Payments service not
only enables compliance with new EU regulations but also positions
banks and payment service providers to capitalize on future
innovations in the global payments ecosystem."
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global
technology leader with the trusted expertise and transformative
technology to help clients and the financial services industry
operate, innovate, and grow. We power investing, governance, and
communications for our clients – driving operational
resiliency, elevating business performance, and transforming
investor experiences.
Our technology and operations platforms process and generate
over 7 billion communications per year and underpin the daily
trading of more than $10 trillion of
securities globally. A certified Great Place to Work®, Broadridge
is part of the S&P 500® Index, employing over 14,000 associates
in 21 countries.
For more information, please visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg
Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/broadridge-launches-instant-payments-service-aligned-with-new-eu-regulations-302278256.html
SOURCE Broadridge Financial Solutions, Inc.