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Transforming Tax Reclaims: Broadridge and Xceptor's Strategic Partnership

In an era where financial compliance and service efficiency are paramount, Broadridge Financial Solutions, a global leader in FinTech, has announced a significant partnership with Xceptor, a specialist in data automation for financial institutions. This collaboration is set to redefine the landscape of global tax reclaim and asset servicing operations by introducing an integrated digital platform that automates these processes.

A New Era of Compliance and Efficiency

As financial institutions grapple with increasingly complex tax regulations and heightened operational demands, the need for streamlined processes has never been clearer. Broadridge and Xceptor's unified solution promises to address these challenges by merging Xceptor’s Tax automation with Broadridge’s Global Tax Client Reporting Solution.

Tom Burke, President of Global Asset Servicing at Broadridge, emphasized the importance of this development, stating, "We're excited to partner with Xceptor as part of our broader strategic initiative to provide a truly global, integrated asset servicing solution. Financial institutions are facing a growing complexity in their tax operations, particularly amidst surging transaction volumes and evolving regulatory frameworks."

The Power of Automation

The combined platform will not only enhance the accuracy and speed of tax operations but also improve compliance across multiple geographic markets. By integrating their respective technologies, the partnership aims to create a seamless flow of data and documentation, facilitating a more efficient tax reclaim lifecycle.

The solution will allow clients to automatically identify Relief at Source (RAS) and Tax Reclaim opportunities and manage tax documentation with remarkable agility. Through this enhancement, firms can expect expedited reclaim processing, reduced operational risk, and significant cost efficiencies.

Meeting Market Needs

Both companies recognize that the current market requires more than individual solutions; it demands a cohesive framework that can adapt to the unique regulatory landscapes of various jurisdictions. Michiel Verhoeven, CEO of Xceptor, noted, "By combining our tax offering with Broadridge's solution, we are delivering best-of-breed product functionality, intelligent data automation, and extensive domain expertise to clients navigating complex tax environments."

This collaboration aims to provide financial firms with the visibility and control they need to transform their tax operations. Enhanced functionality and intelligent data automation will not only streamline processes but also address compliance needs resulting from ongoing regulatory changes, including MiKaDiV and EU FASTER initiatives.

Future-Proofing Operations

The financial sector is in a continuous state of change, driven by regulatory reforms and changing market dynamics. The partnership between Broadridge and Xceptor positions clients to adapt effectively, fostering resilience and operational agility. With this new solution, emphasis is placed on not just meeting current compliance requirements but also anticipating future challenges, ensuring financial institutions can thrive in an increasingly complex environment.

Conclusion

The joint efforts of Broadridge and Xceptor illustrate a commitment to innovation within the financial services space. By harnessing the capabilities of both companies, the partnership aims to simplify and enhance how financial institutions manage global tax reclaims and asset servicing. With automation paving the way for faster and more precise operations, clients can enjoy the benefits of improved service delivery, compliance assurance, and optimized workflows across the industry. As the financial landscape continues to evolve, this strategic alliance represents a pivotal step toward a more efficient and compliant future in global finance.