Broadridge and Strate deliver voice processing solution to South Africa
Broadridge Financial Solutions Inc and South Africa-based central security platform Strata has entered into a partnership to integrate end-to-end voice processing solutions on Strate’s platform.
The collaboration between Broadridge, Strate and the Central Securities Depository Participants (CSDPs) aims to streamline processes and achieve greater operational efficiency throughout the proxy voting life cycle in South Africa. It also aims to support clients with South Africa’s Companies Act compliance requirements.
The partnership also enables Broadridge users, including banks and brokers, wealth managers and more, to use the service. Users of the service get a “significantly extended” voting window (up to meeting date-minus-one) for underlying customers, and increased transparency through confirmation of submitted votes.
The South Africa-centric service is the latest addition to Broadridge’s range of direct market solutions products. The committee focuses on traditional sub-detention-related activities.
Gregory Naickermanager of CSD services in Strate, explained how the collaboration could increase the integrity of the market.
Naicker commented: “As a pioneer in digitization in South Africa, Strate partners with leading global technology providers to collaborate on digitally innovative solutions, which is why we are proud to have worked with Broadridge on our e-Voting solution. “
“Through digital innovation, we integrate and connect critical players in the financial market ecosystem, leading to integrity and trust in our markets.”
Improve voting by proxy
Demi Derem, general manager of international investor communication solutions at Broadridge, commented on the collaboration. He said: “We are delighted to launch our all-digital South African voting service, supporting the growing desire of investors globally to exercise their corporate governance rights in this highly strategic market.”
“Our successful partnership with Strate represents another critical step in connecting leading providers at the heart of financial infrastructure with our network of global investors to enable seamless investor voting and engagement.”
The service comes as part of Broadridge’s commitment to expanding market coverage for digital proxy processing, extended voting windows and improved voting transparency. The fintech company also plans to further expand its market engagement in 2023 and beyond.
Llewelyn FordHead of Investor Services for South Africa at Standard Bank Groupalso gave his view on the partnership.
“The partnership with Strate and Broadridge cements Standard Bank’s promise to deliver continuous value to our clients.”
“It offers flexibility in choosing a proxy voting partner, provides better voting deadlines, delivers improved proxy disclosure information as well as moves towards fully digital and automated electronic voting solutions,” he said.
“This development moves the market closer to achieving the desired level of efficiency and reduces risk in the proxy voting environment.”
