Digital investor communications company Proxymity has launched its Vote Connect Total solution into the North American market, in collaboration with communications technology firm, Mediant.
By leveraging Mediant’s technology and distribution platform with its software solution, Proximity will be able to offer reporting and real-time processing to North American-based custody banks, financial intermediaries and their customers.
Vote Connect Total offers real-time holdings reconciliation and allows intermediaries to track ballots generated on their positions via Proxymity’s platform which highlights exceptions that need to be reported and corrected.
Vote Connect Total eliminates both overvoting or undervoting with Proxymity’s distinction between any connected issuer and shareholder. It ensures all connected parties in the chain of custody can track ballot distributions and voting instructions throughout the voting window.
This collaboration “unlocks a fully integrated global and US digital proxy voting solution for custody banks and other financial intermediaries, bringing choice to a sector with limited alternatives,” says Proxymity.
“Traditional options continue to rely on anachronistic batch processing fraught with errors, which regularly lead to overvoting or undervoting of shares,” it adds. “The lack of digital tracking and limited transparency leaves both intermediaries and shareholders in the dark about whether their vote is counted.”
Proxymity Vote Connect Total is accessible to all financial intermediaries via Proxymity’s API. The solution supports a full suite of communication channels, via Proxymity and Mediant’s proprietary software, and enables global coverage for proxy vote processing.
Sherry Moreland, president of Mediant, comments: “Our decision to invest in Proxymity in 2022 and power its Vote Connect Total solution in our local markets showcases the best mix of financial innovation and service delivery excellence. We’re leveraging the strengths of both organisations to radically improve the experience for custodians, other financial intermediaries and shareholders.”
Jonathan Smalley, chief operating officer and co-founder of Proxymity, says: “The launch of Vote Connect Total in the North American market introduces a step-change for the global financial ecosystem and realises Proxymity’s long-held ambition to deliver unique value and choice to our customers in both the US and Canada.
“We’re grateful for our collaboration with Mediant, whose 20-year experience will help to accelerate the pace with which we can deliver the Proxymity experience across all general meetings in North America to our custodian and institutional customers.”
