Broadridge (BR) Unveils AI/ML Based Automation Platform
Broadridge Financial Solutions, Inc. BR yesterday announced that it has launched Broadridge Data Control Intelligent Automation, an AI and ML platform for reconciliation, matching and exception management applications.
Alastair McGill, general manager of Data Control Solutions at Broadridge, stated, “By leveraging AI and ML we are helping eradicate breaks in the exception management world, automatically finding the underlying cause of a problem and resolving it efficiently to ensure the underlying cause is addressed."
Collaboration With Tookitaki
Broadridge partnered with Singapore-based enterprise software solutions provider Tookitaki Holding to use its AI and ML technology to deliver thisvendor-agnostic post-trade platform, which enables users to license modules for multiple Intelligent Automation applications. The initial two modules are Break Management and Recon Perform that work across Broadridge's reconciliations solution as well as in-house and third-party developed solutions.
We believe that the new offering is part of Broadridge’s technology investments to strengthen its client-focus culture and enhance value of core product. The company’s shares have gained 7.2% over the past year, outperforming the 2.3% growth of the industry it belongs to.
Zacks Rank and Stocks to Consider
Broadridge currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Global Payments GPN, Mastercard MA and Cardtronics CATM. While Global Payments and Cardtronics sport a Zacks Rank #1, Mastercard carries a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Global Payments, Mastercard and Cardtronics is 17%, 16% and 4%, respectively.
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