Fintech company Broadridge Financial Solutions has wrapped up its previously announced acquisition of Kyndryl’s transaction processing platform for the securities brokerage industry in Canada, dubbed Securities Industry Services (SIS).
The terms of the transaction were not disclosed.
The SIS wealth and capital markets technology platform supports Canadian financial services firms with account record keeping, tax and regulatory reporting, clearing and settlement, and integrated order management activities.
Announced in May this year, the transaction will enable Kyndryl to offer managed services and capabilities to Broadridge Financial Solutions related to SIS.
According to Broadridge Financial Solutions, the acquisition reinforces its commitment to delivering top-tier solutions that drive simplification and innovation in the Canadian financial services market.
In addition, the acquisition of Kyndryl’s transaction processing platform will allow Broadridge Financial Solutions to accelerate innovation and enhance product investments for the Canadian wealth sector.
The acquisition will not have a material impact on Broadridge Financial Solutions’ financial results, said the company earlier.
Publicly listed on the New York Stock Exchange (NYSE), Broadridge Financial Solutions supports clients and the financial services industry in their operations, innovation, and growth efforts.
The company provides solutions for investing, governance, and communications, aiming to enhance operational resilience, improve business performance, and transform investor experiences.
In September this year, Broadridge Financial Solutions announced the integration of its securities-based lending (SBL) tools from its Wealth Lending Network (WLN) marketplace into the Morningstar Advisor Workstation.
This integration enables independent financial advisers to easily access lending solutions alongside Morningstar’s offerings in core research, investment planning, and portfolio analysis.
Additionally, the integration supports broader client financial objectives by allowing advisers to assess clients’ SBL borrowing potential and connect directly with WLN partner banks to fulfil lending needs.
