Leading global fintech provider Broadridge Financial Solutions announced Monday that a Tier-1 Canadian bank has successfully implemented its Distributed Ledger Repo (DLR) platform for managing High-Quality Liquid Asset (HQLA) treasury securities.
Broadridge Financial Solutions: Tier-1 Canadian Bank Implements Distributed Ledger Repo
The implementation, according to the company, marks a significant step forward in the adoption of Distributed Ledger Technology (DLT) in the financial industry.
“This collaboration marks a significant milestone as the bank becomes the first to go live with this groundbreaking HQLA use case through DLR, showcasing the potential of Distributed Ledger Technology (DLT) in transforming financial operations,” explained Broadridge.
Broadridge believes its DLR platform offers a more efficient and cost-effective solution for HQLA management compared to traditional methods.
They explain that by leveraging distributed ledger technology, the platform streamlines workflows, reduces operational risks, and enhances transparency.
Horacio Barakat, Head of Digital Innovation at Broadridge, commented: “We are thrilled to see another Tier-1 institution recognize the value of our DLR platform helping them operate, innovate and grow.”
“This implementation not only simplifies their workflow and generates cost savings but also lays the foundation for further DLT use cases that can drive even greater efficiencies and innovation in the financial sector.”
As the financial industry continues to embrace digital transformation, Broadridge is aiming to provide solutions that help its clients stay ahead of the curve. The company’s DLR platform is gaining traction globally, with a growing network of participants and a monthly volume exceeding $1 trillion.
