Broadridge Acquires Securities-Based Lending Firm Rockall

The two companies did not disclose the terms of the deal

Financial technology company Broadridge Financial Solutions announced on Wednesday that it has acquired Rockall. The company did not disclose the terms of the deal.

“We are excited to have our innovative SBL and collateral management technology solutions be a part of Broadridge’s wealth management offerings, serving an even greater number of clients,” said Richard Bryce, Rockall’s chief executive officer.

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“Broadridge is a leader in the wealth management industry and its size and scale accelerates our ability to meet the increasing demand from advisors and investors.”

Based in Dublin, Rockall provides collateral management and securities-based lending (SBL) to financial institutions. The firm says that its products help businesses to improve the performance of wealth, retail, commercial and corporate lending.

Currently, the firm’s most popular products are FASTNET, a wealth lending solution, and COLLATE – a piece of technology that strengthens firms’ credit risk management and regulatory reporting abilities.

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The technology company has seen some major successes. It claims to help financial institutions manage $3 billion in collateral every day.

On top of that, the firm provides services to ten of the thirty largest banks in the US.

SBL growing in popularity

Hinting at the reasons for the acquisition, Broadridge issued a statement noting that SBL is becoming increasingly popular amongst companies operating in the financial markets.

The technology giant also said that many of the existing technologies, which cater to the SBL market, are inefficient and not able to adequately meet the needs of the companies that they are serving.

“Securities-based lending and collateral management are key industry areas in need of innovation,” said Michael Alexander, head of North American wealth and capital markets solutions for Broadridge.

“We look forward to leveraging next-generation technology to provide proven solutions to clients while mutualizing key front-, middle- and back-office functions.”

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