Broadridge has signed up clients to Swift's Transaction Screening Service, and the newly-launched Securities View service.
Using Broadridge's connectivity for these services, financial firms and corporate treasuries will be able to optimise sanctions compliance and track securities lifecycles.
Global service provider TÜV Rheinland is one of the first Broadridge clients to be signed up to the Transaction Screening Service.
Sanctions screening regulations can be complex, challenging to follow, and subject to a high frequency of changes, Broadridge says.
Many firms are further exposed by inefficient, time-consuming processes when maintaining constantly evolving lists of sanctioned organisations and individuals, it adds.
By connecting its customers to Swift's Transaction Screening Service, Broadridge aims to enable direct access to a centrally-managed service that enables accuracy and efficiency for transaction screening and sanctions list management.
Swift Securities View enables firms to gain an end-to-end view of a securities settlement transaction.
Through utilising the service, they can identify and resolve exceptions in an effort to increase settlement efficiency and reduce exposure to late settlement penalties.
Darren Holdstock, global head of complementors at Swift, says: "We are pleased to extend the benefit of our Transaction Screening Service and Securities View solutions to more institutions through connectivity with Broadridge.
“Transaction Screening Service means institutions can securely screen incoming and outgoing messages against the most up-to-date sanctions lists; while Swift Securities View provides end-to-end visibility of securities transactions and enables market participants to quickly identify trades at risk of failing. [This allows users to] take pre-emptive action."
Heidi Dittmar, head of Broadridge's Swift services business, comments: "As an accredited Swift partner and technology API enabler, we have a long-standing track-record of empowering leading financial firms and corporate treasury organisations globally, through outsourced access to Swift's services.
“As Swift continues to invest and advance its services, as demonstrated for Transaction Screening Service and Securities View, it is important that we continue to have a timely response so that our clients can depend on us and derive maximum business value."
