TL;DR:
- Broadridge Financial Solutions has obtained a patent for its machine learning technology, providing financial advisors with valuable insights and engagement predicting scores for securities-based lending (SBL) borrowers.
- Securities-based lending solutions are becoming increasingly important for advisors as clients seek personalized financial advice and alternatives to liquidity in a rising interest rate environment.
- The patented machine learning technology enables wealth organizations and advisors to identify high propensity prospects, reduce loan attrition, understand overall book trends, and improve marketing spend effectiveness.
- Broadridge collaborated with The Bancorp to develop and implement machine learning models for borrower insights at the enterprise and advisor levels.
- This patent signifies Broadridge’s commitment to delivering innovative and personalized products in wealth lending and supporting the growth of its customers.
Main AI News:
Broadridge Financial Solutions, a leader in financial technology, has achieved a groundbreaking milestone by obtaining a patent from the prestigious US Patent and Trademark Office. The patent (no. 11544627), titled “Machine Learning-Based Methods and Systems for Modelling User-Specific, Activity Specific Engagement Predicting Scores,” recognizes Broadridge’s cutting-edge machine learning technology that provides financial advisors with invaluable insights and engagement predicting scores for securities-based lending (SBL) borrowers.
The issuance of this patent reflects the increasing demand for advanced solutions within the SBL industry, where financial advisors are constantly seeking ways to differentiate themselves and deliver personalized financial advice. As clients increasingly pursue tailored financial guidance and explore alternatives to liquidity in a rising interest rate environment, securities-based lending solutions have emerged as key differentiator for advisors.
Broadridge’s patented machine learning technology revolutionizes the landscape by delivering actionable insights that empower wealth organizations and advisors. By effectively identifying high-propensity prospects, reducing loan attrition, and gaining a comprehensive understanding of overall book trends, advisors can make informed business decisions, improve budget predictability, and maximize marketing spend effectiveness.
The development of this groundbreaking technology was a collaborative effort between Broadridge and its esteemed client, The Bancorp. Leveraging their expertise, Broadridge and The Bancorp trained and implemented machine learning models to extract valuable borrower insights across the enterprise and advisor levels. This partnership showcases the power of collaboration and innovation in driving growth and enhancing the client experience.
Mike Alexander, President of Wealth Solutions at Broadridge, expressed his excitement, stating, “This patent reaffirms Broadridge’s unwavering commitment to delivering innovative and personalized products in wealth lending, addressing the growing demand within the industry. Our focus is on leveraging the vast industry data at our disposal to empower financial advisors, increase their productivity, and align investors with the services they truly desire. We take great pride in this formal recognition of the remarkable innovation taking place at Broadridge as we actively contribute to our customers’ sustained growth.”
Jeff Hazelwood, Managing Director and Head of Banking Solutions at The Bancorp, shared his enthusiasm, saying, “We are thrilled to witness the positive outcomes of our collaborative efforts with Broadridge in fostering the growth of securities-based lending at The Bancorp. By offering tailored products to our clients, we strengthen our relationships while simultaneously enhancing operational efficiency.”
Broadridge’s SBL solution is an integral part of Broadridge Wealth, a comprehensive suite of market-ready component solutions designed to empower advisors. This suite encompasses various essential elements, including personalized investor experiences, revenue and productivity acceleration for advisors, digital transformation of enterprise operations, and streamlined cost efficiencies.
Conclusion:
Broadridge’s patent for its machine learning-based securities-based lending insights showcases its dedication to innovation and personalized wealth management solutions. This technology has the potential to significantly impact the market by empowering financial advisors with actionable insights, enhancing client relationships, and improving operational efficiency. By leveraging advanced machine learning models, Broadridge is leading the way in reshaping the wealth management landscape and driving sustained growth for its customers.
