Broadridge Financial Solutions, a prominent global fintech leader, has announced its acquisition of Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform. This acquisition includes crucial services like clearing, settlement, account record-keeping, and regulatory reporting tailored for Canadian financial firms. Kyndryl will continue to collaborate with Broadridge Canada, offering managed services to support SIS operations.
The partnership and acquisition underscore Broadridge’s commitment to enhancing technology solutions for Canadian financial institutions. By integrating SIS’s technology with Broadridge’s Wealth Platform and leveraging Kyndryl’s managed services, Broadridge aims to accelerate innovation and meet the evolving needs of the Canadian market effectively.
Kyndryl Canada’s president, Farhaz Thobani, highlighted the strategic fit between Broadridge and Kyndryl, emphasizing their shared commitment to driving technology innovation at scale. This alignment positions Broadridge as the ideal acquirer to further innovate and serve the Canadian financial sector.
The transaction, expected to close soon pending regulatory approvals, is anticipated to complement Broadridge’s capabilities without a significant financial impact. This move underscores Broadridge’s strategic expansion in delivering critical infrastructure for financial services worldwide.
