Broadridge Launches GenAI-Powered OpsGPT to Transform and Optimize Trading in a T+1 Environment

Rhea-AI Summary

Broadridge Financial Solutions, Inc. (NYSE: BR) launches OpsGPT, a new capability powered by Generative AI (GenAI) and Large Language Model (LLM) technology to simplify and optimize trading operations, improve efficiency, mitigate risks, and enhance governance across the T+1 trade lifecycle.

Insights

Financial Technology Analyst

The introduction of OpsGPT by Broadridge Financial Solutions represents a significant innovation in the financial technology space, particularly in the post-trade processing domain. The integration of Generative AI and Large Language Models into financial operations is poised to address several pain points that have long plagued the industry, such as inefficiencies in trade settlements, risk management and compliance with evolving regulations.

By automating and enhancing decision-making processes, OpsGPT offers the potential to reduce operational costs and improve margins for financial institutions. The real-time visibility into transactions and settlements could lead to a reduction in failed trades, which has been a costly issue for firms. In the context of reduced settlement cycles, this technology could be particularly beneficial in maintaining compliance and adapting to market changes with agility.

Moreover, the scalability and flexibility of Broadridge's AI platform suggest that it can be tailored to a variety of use cases, which enhances its market appeal. The focus on responsible AI practices also indicates an awareness of the ethical considerations and potential biases inherent in AI systems, which is critical for user trust and regulatory approval.

Risk Management Specialist

In the realm of risk management, OpsGPT's ability to prioritize key risk items and suggest next best actions is a game-changer. By leveraging curated and harmonized data, the application is not just a tool for efficiency but also a risk mitigation instrument. The real-time analysis and transparency into post-trade lifecycle events empower firms to proactively address potential issues before they escalate, thereby enhancing governance and oversight.

The use of a common data ontology across Broadridge's post-trade platforms is crucial in ensuring data integrity and consistency, which are vital for accurate risk assessment. The application's alignment with high standards of privacy and confidentiality in handling client data is also essential, considering the sensitive nature of financial transactions and the stringent regulatory environment.

Regulatory Compliance Expert

From a regulatory compliance perspective, OpsGPT's launch is timely. Financial institutions are under increasing pressure from regulators to ensure accurate and timely settlements, manage risks effectively and maintain transparent operations. The GenAI-powered application's ability to adapt to changing regulations and market complexities is vital for firms to stay compliant and avoid punitive actions.

The application's design, which emphasizes ease of use and seamless integration with existing systems, suggests that it could facilitate a smoother transition for firms adapting to new regulatory requirements. This is particularly important as the industry moves towards T+1 settlement cycles, which demand faster and more efficient processing capabilities. By providing a tool that enhances compliance while also improving operational efficiency, Broadridge is addressing a critical market need that could see widespread adoption.

Simplifying and optimizing operations with GenAI and LLM technology to improve efficiency, mitigate risks and enhance governance across the T+1 trade lifecycle

NEW YORK, Jan. 11, 2024 /PRNewswire/ -- Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR), today announced the launch of OpsGPT, a new capability for operations users, analysts, and management teams to transform their operations across the post-trade lifecycle. Powered by Generative AI (GenAI) and Large Language Model (LLM) technology, OpsGPT uses transactions, settlements and positions data to provide clients real-time visibility for faster fails resolution, researching next best actions and prioritizing key risk items in a single, easy-to-use interface. The new application is a direct response to industry and regulatory changes. Reduced settlement cycles, the continuous quest for efficiency and increasing trading velocity are collectively creating significant stress on firms' legacy technology and operating models.

"OpsGPT is the GenAI-powered-copilot that will simplify and optimize trading operations, generating a step change in productivity for operations teams, creating post-trade trade lifecycle event transparency and empowering users to swiftly remediate, reduce, and prevent risks," said Vijay Mayadas, President of Capital Markets at Broadridge. "Leveraging automation to reduce manual intervention through OpsGPT will allow clients to operate at peak efficiency, despite changing regulations and market complexities."

OpsGPT is trained on curated and harmonized data from Broadridge's global multi-asset post trade systems which power the clearance and settlement of $10 trillion in trades daily. Moreover, Broadridge's leading post trade platforms are underpinned by a common data ontology and the highest standards of privacy and confidentiality in handling client data. The result is an AI tool that can be rapidly deployed for clients and has the power to streamline access, connectivity and understanding of data across multiple asset classes to increase operations productivity.

Broadridge has designed OpsGPT with a strong focus on responsible AI practices, addressing the unique needs and challenges faced by the industry. This GenAI-powered application is integrated with Broadridge's existing global, multi-asset class post trade solutions, allowing seamless use for clients globally.

Overall, Broadridge's AI platform provides the flexibility to choose a model based on specific use case needs, as well as both functional and non-functional requirements. The platform provides a consistent and scalable API interface that makes it easy to switch between different models based on client needs and risk governance processes.

Broadridge recently published a whitepaper entitled, Efficiency Unleashed: Capital Markets Operations Reimagined with Generative AI, which describes how emerging technology, particularly GenAI and LLM, can be leveraged to revolutionize post-trade operations. For more information on how OpsGPT can transform and optimize your trading, please see here. 

About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 14,000 associates in 21 countries.

For more information about us and what we can do for you, please visit www.broadridge.com.

Broadridge Contacts:

Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com

Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the new capability launched by Broadridge Financial Solutions, Inc.?

Broadridge Financial Solutions, Inc. has launched OpsGPT, a new capability powered by Generative AI (GenAI) and Large Language Model (LLM) technology to simplify and optimize trading operations, improve efficiency, mitigate risks, and enhance governance across the T+1 trade lifecycle.

Who is the President of Capital Markets at Broadridge Financial Solutions, Inc.?

Vijay Mayadas is the President of Capital Markets at Broadridge Financial Solutions, Inc.

What is OpsGPT trained on?

OpsGPT is trained on curated and harmonized data from Broadridge's global multi-asset post trade systems which power the clearance and settlement of $10 trillion in trades daily.

What did Broadridge recently publish a whitepaper on?

Broadridge recently published a whitepaper entitled, Efficiency Unleashed: Capital Markets Operations Reimagined with Generative AI, which describes how emerging technology, particularly GenAI and LLM, can be leveraged to revolutionize post-trade operations.

How can clients access and understand data across multiple asset classes?

Clients can access and understand data across multiple asset classes through Broadridge's AI platform, which provides the flexibility to choose a model based on specific use case needs, as well as both functional and non-functional requirements.