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Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, today announced that Holtzbrinck Publishing Group (Holtzbrinck) has selected Broadridge to standardize and streamline its financial communications with over 35 banks globally.
Broadridge will help Germany-headquartered Holtzbrinck increase efficiency and improve business control for its global corporate treasury operations. Holtzbrinck will leverage Broadridge’s international payments and integration solutions to create a single, integrated channel to manage communications across banks. FinMApp, Broadridge’s integrated platform for financial messaging and workflow management, will be used to deploy the Electronic Banking Internet Communication Standard (EBICS), a financial messaging channel used in a number of European markets to support secure communication between financial institutions and corporates.
“Having previously relied on a proprietary solution, Broadridge is the right partner for us. Going live with EBICS with the Broadridge FinMApp is the first step to concentrate and automate our global bank communication and gain complete transparency into our payment processes,” said Jürgen Schweizer, Head of Treasury at Holtzbrinck Publishing Group.
FinMApp is used extensively in banking and capital markets, asset management and corporate treasury operations, delivering advanced transaction monitoring, management, translation and reporting on international payments to a user base of over 100 multinational organizations. It delivers a unique, unified workstream and consolidated business view that enables corporate and financial institutions to track cross-border payments in real time and receive status updates and notifications regarding applicable costs and charges.
“We are pleased to support Holtzbrinck Publishing Group and provide them with a central process that will streamline its cash and liquidity management,” said Andreas Günther, Managing Director of Data Control Solutions for Broadridge in Germany. “We look forward to delivering the benefits of a unified service to help Holtzbrinck monitor transaction statuses in real time, manage confirmation and settlement cut-off times and reduce exposure to processing exceptions.”
In a second phase, Broadridge will extend its services to Holtzbrinck to deliver a single communication channel, via FinMApp, to route financial messages to the global banking network via both EBICS and SWIFT.
Broadridge collaborated with PPI AG (PPI), a Europe-wide payments consultancy and supplier, for the first phase. PPI is a leading advisor in EBICS and other payments-related technology solutions with offices in Hamburg, Zurich, Milan and other locations. “Our EBICS products are already in use at many European companies in the financial sector. With this cooperation, we are once again helping to deliver a comprehensive, end-to-end solution for the international payments market,” said Dr. Thorsten Völkel, a board member at PPI.
