In a move to streamline its stock lending business and drive operational efficiencies, Matsui Securities, a Japanese online securities broker, has adopted a cloud-based post-trade processing solution from global fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Broadridge Financial Solutions, Inc.

The modular SaaS platform will enable Matsui Securities to process and settle all stock lending and borrowing transactions, manage positions, and calculate collateral requirements, fees, rebates, and manufactured dividends.

Matsui Securities Enhances Stock Lending Operations

The decision to implement Broadridge's solution comes as Matsui Securities' internally developed system for stock lending transactions had become increasingly complex and burdensome to maintain as the business grew.

"By adopting Broadridge's post-trade processing solution with its proven global track record, we expect to reduce our maintenance burden and facilitate a far more stable management with much greater operational efficiency," said Shinichi Uzawa, the Managing Director of the Corporate Division at Matsui Securities.

Intelligent Wave, an IT services firm specializing in the financial sector, will develop the front-office component, handle system integration, and provide project management and overall consultation to Matsui Securities.

$SPY $SONG $QQQ Matsui Securities Adopts Broadridge's Post Trade Solution to Drive Stock Lending Efficiency: The modular cloud-based solution will open new markets and reduce maintenance burden and complexity NEW YORK and TOKYO, March 10, 2024… https://t.co/mGz1MfnpRN $BTC pic.twitter.com/XBT4ZEpbnZ

— Jake P. Noch (@Jake_P_Noch) March 10, 2024

"In today's competitive online securities brokerage market, margin compression means that our clients are looking at new revenue growth opportunities and operating efficiencies,” Ian Strudwick, the Managing Director and Head of Asia Pacific at Broadridge, commented. “Our modular platform allows them to achieve these goals, quickly and with ease, and provides the flexibility for future expansion of their services locally and globally at scale.”

Financial Results of Broadridge

Broadridge recently unveiled its financial outcomes for the second quarter of the fiscal year 2024, demonstrating an uptick of 9% in total revenue, reaching $1,405 million. The company's recurring revenues grew considerably, amounting to $899 million, up 7% from the previous year.

Kicking off the fiscal year 2024, Broadridge displayed remarkable performance in the first quarter, highlighted by significant increases in recurring revenues and adjusted EPS. The company reported a rise of 8% in total income, which stood at $871 million, and a substantial surge of 30% in adjusted EPS to $1.09.

Broadridge recently launched OpsGPT, a cutting-edge solution that employs Generative AI to transform post-trade operations. The firm's dedication to AI innovation doesn't stop with OpsGPT. In the previous year, Broadridge introduced BondGPT, an AI-based tool designed to enhance bond selection processes within the US corporate bond market.