NEW YORK, March 13, 2019 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and
part of the S&P 500® Index, today announced that Navy
Federal Credit Union (Navy Federal), the largest retail credit
union in the US with over $97 billion
in assets, has successfully gone live on Broadridge's
Mortgage-Backed Securities (MBS) Expert SaaS platform.
Navy Federal is the first credit union that has been brought
live on Broadridge's fixed income MBS Expert SaaS
platform. MBS Expert is Broadridge's mortgage-backed
securities processing solution that is engineered to give its users
a competitive advantage in this multi-trillion dollar market. The
platform provides advanced functional capabilities to support
front, middle and back office operations. MBS Expert seamlessly
integrates with a client's existing electronic trading platform and
front and back office infrastructure, diminishing client start-up
costs. Broadridge's MBS Expert SaaS platform is used by 30+ firms
including the largest Fixed Income Clearing Corporation (FICC)
clearing members and asset managers.
"MBS Expert was the right choice to support our expanding
business needs, and we have transacted over $2 billion worth of MBS trading leveraging MBS
Expert," said William Tabri, Manager
of Capital Markets at Navy Federal Credit Union. "Navy Federal is
now a full-clearing member of the FICC's MBS Division, availing us
of the entire range of MBS related services. Aside from leveraging
the new relationships with other FICC member firms, we will benefit
from decreased counterparty risk and a centralized margining
process through the FICC."
Broadridge is excited to support our clients as they continue to
expand and grow their business, and we are delighted that Navy
Federal has chosen to use MBS Expert to manage its mortgage-backed
processing needs," said Vijay
Mayadas, president of Global Fixed Income, Broadridge. "Our
MBS Expert SaaS offering is another example of Broadridge
leveraging leading technology-driven solutions that set the
standard in capital markets to help clients get ahead of today's
challenges. Broadridge's delivery of MBS Expert minimizes the time
to market and expense typically associated with implementing MBS
processing solutions, enabling Navy Federal to maximize its return
on investment and better focus operating and staffing resources on
core business functions."
About Navy Federal Credit Union
Established in 1933 with only seven members, Navy Federal now
has the distinct honor of serving over 8 million members globally
and is the world's largest credit union. As a member-owned and
not-for-profit organization, Navy Federal always puts the financial
needs of its members first. Membership is open to all Department of
Defense and Coast Guard Active Duty, veterans, civilian and
contractor personnel, and their families. Dedicated to its mission
of service, Navy Federal employs a workforce of over 18,000 and has
a global network of 329 branches. For more information about Navy
Federal Credit Union, visit navyfederal.org.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) a $4 billion global Fintech leader and a part of
the S&P 500® Index, is the leading provider of investor
communications and technology-driven solutions to banks,
broker-dealers, asset managers and corporate issuers globally.
Broadridge's investor communications, securities processing and
managed services solutions help clients reduce their capital
investments in operations infrastructure, allowing them to increase
their focus on core business activities. With over 50 years of
experience, Broadridge's infrastructure underpins proxy voting
services for over 50 percent of public companies and mutual funds
globally, and processes on average more than US $5 trillion in fixed income and equity trades per
day. Broadridge employs over 10,000 full-time associates in 18
countries.
For more information about Broadridge, please
visit www.broadridge.com
Investors:
W. Edings Thibault
Head of Investor Relations
+1 516-472-5129
edings.thibault@broadridge.com
Media:
Tina Wadhwa
Broadridge Financial Solutions
+1 212-973-6164
tina.wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.