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Broadridge Financial Solutions, Inc., a fintech solutions firm with development centres in Hyderabad, Bengaluru and Delhi, has been granted a patent by the US Patent and Trademark Office for Blockchain technology developed by it that “enhances the processes for proxy voting and repurchase, or repo agreements”.
The company, with a revenue base of $4 billion, provides investor communications and technology solutions for broker-dealers, banks, mutual funds and corporate issuers globally. It has about 10,000 full-time associates in 16 countries.
“Building upon Broadridge’ssuccessful Blockchain-based bilateral repo pilot with two global investment banks, the patent demonstrates how Broadridge’s technology can streamline reconciliation processes, improve data management and reduce non-value added costs,” V Laxmikanth, Managing Director of Broadridge India, said.
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