Broadridge Financial Solutions, a provider of data and analytics to the financial services industry, announced this Wednesday that it will be opening a new office in Tel Aviv.
According to a statement issued by the firm, the new office is an expansion of its Digital Center of Excellence (CoE).
“The launch of our Tel Aviv office and further investment in digital expertise is an exciting milestone and is illustrative of Broadridge’s strong commitment to digital transformation,” said Doug DeSchutter, President of Broadridge Customer Communications. “Broadridge has helped clients successfully digitize content across industries, including investor communications for proxies and interims where 64% of these communications are now electronic or suppressed.”
Tel Aviv’s newest office will focus on the development of digital communications management platforms and user experience (UX) tools aimed at improving consumer engagement.
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Broadridge noted that the new CoE will be based in ‘Silicon Wadi’ – Israel’s answer to Silicon Valley.
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The office will be headed up by Avi Weiss, the CEO of ActivePaths. A digital billing and customer relations start-up, ActivePaths was acquired by Broadridge in March of this year.
“Broadridge’s Digital Center of Excellence in Tel Aviv not only demonstrates our commitment to investing in the Israeli market, but also enables us to be more responsive to the rapidly evolving needs of our clients and helps transform Broadridge’s regulatory and customer communications,” said Weiss.
To some degree, the opening of this new office isn’t unexpected. Weiss and Rob Krugman, ActivePath’s Chief Digital Officer, told The Times of Israel they wanted to invest in Israel in the wake of the acquisition in March.
“The idea is to invest,” Krugman said in March, “and build out the technology they are currently working on but also continue to invest and grow in the Israeli market.”