While much of the industry took the holiday week off, Scivantage was busy kicking-off a new strategic partnership with financial solutions leader Broadridge Financial Solutions (NYSE:BR). Under this partnership, Scivantage Maxit® will become the cost basis reporting solution for all Broadridge clients currently using TLE and Aspire Portfolio Accounting—this marks an impactful and expansive milestone for Scivantage and its cost basis reporting platform.
Scivantage Maxit® provides market-leading cost basis technology with advanced expertise and significant new functionality enhancements, including support for Phase III compliance. Under the terms of the agreement announced early last week, Scivantage Maxit® will be integrated with Broadridge’s processing engine and hosted in Broadridge’s data centers. Additionally, a team of Broadridge associates have joined the Scivantage cost basis reporting team to ensure seamless client support and transition. The collaboration will also extend to various additional opportunities including business process outsourcing, reconciliations, and performance reporting.
The strategic partnership comes at a pivotal time, as reporting regulations become increasingly complex and compliance requires higher levels of expertise and advanced scalable solutions.
Recent coverage in a Wall Street and Technology exclusive features a joint interview with Scivantage CEO Adnane Charchour and Susan Certoma, Broadridge’s president of brokerage processing services—the Q&A spans across the partnership, reporting complexities and the eternal buy vs. build debate.
Learn more about the Broadridge-Scivantage partnership here.