First Abu Dhabi Bank (FAB) has selected global fintech leader Broadridge Financial Solutions to support the expansion of its global agency securities finance business, it was announced on Wednesday.
First Abu Dhabi Bank Picks Broadridge to Help Build Agency Securities Finance Business
Broadridge explains in its press release that the partnership “marks a significant milestone in the expansion of securities finance within the UAE and the broader Middle East region.”
By utilising Broadridge’s advanced Securities Finance and Collateral Management (SFCM) solution, FAB will be able to broaden its reach in global fixed income and equity markets.
Darren Crowther, Head of Securities Finance and Collateral Management at Broadridge, highlighted “the commitment of both FAB and Broadridge to bring innovative products and solutions to market and to simplifying and innovating trading.”
“This collaboration caters for the growing demand for securities lending and borrowing within the Middle East and is aligned both with local regulatory needs and with international best practices,” he added.
Broadridge’s deployment of an agile and robust SFCM platform, the first AWS SaaS implementation in the region, is said to demonstrate its renewed focus on the Middle East market and its readiness to support FAB’s strategic objectives.
As the region’s securities borrowing and lending regulations continue to evolve, the partnership has the potential to unlock new opportunities and efficiencies for clients worldwide.
