Blockchain Wealthtech

Broadridge Ties Up With AWS to Extend Its DLT-Based Private Market Hub

Broadridge Financial Solutions, a US-based technology solutions provider, has partnered with Amazon Web Services (AWS) to extend its Private Market Hub platform.

The platform utilises 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 to help further automate workflows between front-, middle- and back-office functions providing a consistent, secure, real-time view of the data.

According to a statement by Broadridge, this is said to be the industry’s first deployment of blockchain technology for the private equity market.

Bringing together private equity ecosystem participants, Private Market Hub not only reduces friction for fund managers, investors and administrators, but also allows for easier auditability.

The hub allows for independent auditor access, and adding connectivity to existing industry tools and technologies via its’s open API architecture.

Eric Bernstein

“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.

The trends around digitization 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.”

said Eric Bernstein, Broadridge’s President of Asset Management Solutions.

Saman Michael Far

“We are excited to support Broadridge’s Private Market Hub, which accelerates the digitization 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.”