Broadridge has launched the latest evolution of its Private Market Hub platform to drive further innovation and accelerate digital transformation using Amazon Managed Blockchain from Amazon Web Services (AWS).
Utilising distributed ledger technology (DLT) to better streamline and connect the private equity ecosystem and assets, the updated platform now has added connectivity to existing industry tools and technologies.
According to Broadridge, this will help further automate workflows between front-, middle- and back-office functions providing a consistent, secure, real-time view of the data.
Private Market Hub allows for easier auditability, and funds can manage, communicate and engage with investors and other stakeholders with far greater efficiency, explains Broadridge.
“We are leveraging blockchain technology to drive further innovation, removing industry friction in workflows and delivering real savings in terms of cost and time, by offering seamless connectivity to critical applications and solutions that industry participants rely on,” says Eric Bernstein, Broadridge’s president of asset management solutions.
Bernstein notes: “The trends around digitisation and data and analytics are only growing, and digital assets mark the start of an exciting new era for the private markets industry and fund managers and investors alike, accentuating the need to access best-in-class products to address the evolving landscape.”
Saman Michael Far, vice president, Financial Services Technology, AWS, comments: “We are excited to support Broadridge’s Private Market Hub, which accelerates the digitisation of a critical part of the financial services infrastructure.”
“Private Market Hub’s use of Amazon Managed Blockchain, a fully managed blockchain service, allows us to help Broadridge scale efficiently and more effectively serve its customers,” Far adds.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: hxdyl/adobe.stock.com 