Broadridge Financial Solutions has launched a new platform that provides an open data-feed of proxy voting data and analytics.
The new platform, Broadridge Proxy Policies & Insights (PPI) Data, will leverage machine learning services from Amazon Web Services (AWS).
It will provide broker-dealers, institutional investors, mutual funds, retail investors, regulators and academics access to around five million proxy voting data points, from more than 85,000 meeting agendas and coverage of regulatory documents.
For broker-dealers, PPI Data will allow them to differentiate their customers’ experience in the broker’s app or website.
Broadridge PPI Data can be used by broker-dealers to provide content to retail shareholders during the voter experience, as well as engage investors with insights on top-of-mind proxy proposals.
For institutions, it provides an independent set of proxy voting data that can inform voting without providing voting recommendations, while for retail investors, it provides better data to inform them how they can make a difference through voting their shares.
Artificial intelligence and machine learning capabilities of the platform allow faster-automated information processing so that shareholders receive more information faster than prior manual processes.
In addition, the technology will allow the platform to predict likely contentious votes, allowing shareholders to focus on meetings where their votes may be critical.
Broadridge said it is rolling out this new platform ahead of the 2021 proxy season and plans to include additional regulatory filings on the platform in the future.
Martin Koopman, president, bank broker-dealer investor communications solutions at Broadridge, explains that the new platform “is a great example of applying technology to increase voting by retail shareholders, for brokers to engage with their customers, and for institutional investors to inform their voting”.
Scott Mullins, managing director, worldwide financial services business development at AWS, says: “We are excited to support Broadridge as they leverage AWS to deliver data to investors faster, who can than act on critical information. We look forward to our continued collaboration with Broadridge across their machine learning and digital innovation initiatives.”
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