Broadridge Financial Solutions has announced the
successful implementation of its cloud-based solution Sentry by the global
investment firm Carlyle. This move aims to elevate Carlyle’s private credit and
collateralized loan obligation portfolio management.
Carlyle’s decision to integrate Sentry into its
technology signifies a strategic move towards scalability and efficiency in
managing its growing product offerings, the company said. This step aims to
efficiently handle deal pipeline, trade compliance, and loan operations within
a unified platform.
Jim Keogh, Carlyle’s Managing Director and
Head of Operations for Global Credit, said: “With increased demand in
credit products and ongoing growth of our product offerings, we wanted the
right technology that would enable us to scale up and achieve a platform
approach.”
Sentry is a web-based solution. It caters to the needs of private debt and
syndicated loan markets. Some of its capabilities include research and pipeline
management, trade compliance, and data
aggregation across various strategies, portfolios, and assets.
Last month, Broadridge welcomed HSBC to its Distributed Ledger Technology (DLT) platform. HSBC became the second client to
adopt Broadridge’s DLT and smart contracts to reduce settlement costs. The
technology enhances scalability and mitigates operational risks.
Besides DLT, Broadridge has made a foray into the AI space. In June, the company introduced BondGPT+, an AI tool merging OpenAI’s
GPT-4 technology with proprietary solutions from its subsidiary, LTX. This
application enables the integration of enterprise data, including third-party
data sets.
Broadridge’s Expansion and Industry
Trends
Broadridge’s entry into AI reflects the growing
interest among financial companies to leverage AI solutions. It mirrors recent
partnerships and innovations within the industry. The rising popularity of AI is
evident in initiatives like Bitget’s collaboration with Fetch.ai and Tiger
Brokers’ TigerGPT.
Broadridge’s expansion of its products and services
has boosted its financial performance. Recently, the company reported an impressive increase of 8% in total income, at $871 million, for the first
quarter of the fiscal year 2024. Its earnings per share surged 30% to $1.09.
Additionally, the company’s operating income soared 70%, reaching $148 million. This growth was primarily driven by increased
recurring and event-driven revenues.
Broadridge’s Investor Communication Solutions
segment saw a jump of 12% in revenue, while the Global Technology and
Operations segment expanded 11% in recurring revenues. This growth was credited to new business acquisitions and internal expansion, particularly in
capital markets, wealth, and investment management.
Broadridge Financial Solutions has announced the
successful implementation of its cloud-based solution Sentry by the global
investment firm Carlyle. This move aims to elevate Carlyle’s private credit and
collateralized loan obligation portfolio management.
Carlyle’s decision to integrate Sentry into its
technology signifies a strategic move towards scalability and efficiency in
managing its growing product offerings, the company said. This step aims to
efficiently handle deal pipeline, trade compliance, and loan operations within
a unified platform.
Jim Keogh, Carlyle’s Managing Director and
Head of Operations for Global Credit, said: “With increased demand in
credit products and ongoing growth of our product offerings, we wanted the
right technology that would enable us to scale up and achieve a platform
approach.”
Sentry is a web-based solution. It caters to the needs of private debt and
syndicated loan markets. Some of its capabilities include research and pipeline
management, trade compliance, and data
aggregation across various strategies, portfolios, and assets.
Last month, Broadridge welcomed HSBC to its Distributed Ledger Technology (DLT) platform. HSBC became the second client to
adopt Broadridge’s DLT and smart contracts to reduce settlement costs. The
technology enhances scalability and mitigates operational risks.
Besides DLT, Broadridge has made a foray into the AI space. In June, the company introduced BondGPT+, an AI tool merging OpenAI’s
GPT-4 technology with proprietary solutions from its subsidiary, LTX. This
application enables the integration of enterprise data, including third-party
data sets.
Broadridge’s Expansion and Industry
Trends
Broadridge’s entry into AI reflects the growing
interest among financial companies to leverage AI solutions. It mirrors recent
partnerships and innovations within the industry. The rising popularity of AI is
evident in initiatives like Bitget’s collaboration with Fetch.ai and Tiger
Brokers’ TigerGPT.
Broadridge’s expansion of its products and services
has boosted its financial performance. Recently, the company reported an impressive increase of 8% in total income, at $871 million, for the first
quarter of the fiscal year 2024. Its earnings per share surged 30% to $1.09.
Additionally, the company’s operating income soared 70%, reaching $148 million. This growth was primarily driven by increased
recurring and event-driven revenues.
Broadridge’s Investor Communication Solutions
segment saw a jump of 12% in revenue, while the Global Technology and
Operations segment expanded 11% in recurring revenues. This growth was credited to new business acquisitions and internal expansion, particularly in
capital markets, wealth, and investment management.
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- Source: https://www.financemagnates.com//fintech/broadridges-technology-adopted-by-carlyle-for-credit-portfolio-management/
