Broadridge Financial Solutions acquired the wealth management platform Kyndryl Securities Industry Services (SIS) platform to boost its presence in the Canadian financial services sector. According to the company, the acquisition aims to expand Broadridge's portfolio by enhancing its services for wealth management and capital markets.
Expanding Broadridge Services in Canada
This acquisition promises to bring Broadridge's investment in product innovation and industry-specific solutions to the Canadian wealth market, reportedly building a foundation for streamlined operations and accelerated growth.
Broadridge’s purchase of Kyndryl SIS represents a calculated move to serve a broader range of Canadian financial services, the company mentioned. The acquisition builds on the fintech firm's intent to offer Canadian firms better digital infrastructure that aims to support both simplification and innovations.
“The acquisition further emphasizes Broadridge's commitment to providing leading solutions to the Canadian financial services market that enable simplification and innovation and will enable Broadridge to bring accelerated innovation and product investments to the Canadian wealth market,” the company explained.
This addition reportedly aligns with Broadridge’s broader commitment to meet industry needs and help clients navigate a rapidly changing market landscape. Through this acquisition, Broadridge intends to channel more resources into product development specifically suited to the Canadian wealth management space. This will reportedly be done by enhancing the SIS platform’s capabilities.
Recently, Broadridge announced support for new over-the-counter derivatives reporting requirements in Singapore and Australia and preparation for new regulatory changes in Canada and Hong Kong.
Enhancing Regulations
During the unveiling, Broadridge informed that its reporting solution is set to meet the Monetary Authority of Singapore and Australian Securities and Investments Commission requirements. Additionally, the fintech firm is preparing similar regulatory updates in Canada and Hong Kong, scheduled for July and September 2025, respectively.
Meanwhile, Broadridge launched an instant payment service to improve its real-time money transfer services. The new offering aims to enhance resilience and continuous 24/7/365 operations. According to the official announcement, the service processes payments within 10 seconds. It reportedly utilizes Swift Alliance Gateway Instant, a platform integrated with SwiftNet Instant for instant payments.
Specifically, the service enables businesses and individuals to access instant transactions for various use cases, including payroll processing and refunds. The system is designed to enhance operational efficiency while improving customer satisfaction.
