Broadridge Financial Solutions Forms Partnership with Xceptor to Enhance Global Tax Operations

Broadridge Financial Solutions Partners with Xceptor to Streamline Global Tax Operations

Broadridge Financial Solutions, Inc. has entered into a strategic partnership with Xceptor to create a unified digital platform that automates the global tax relief and reclaim lifecycle. This collaboration is poised to address the growing complexities of tax operations faced by financial institutions amidst a landscape of evolving regulatory requirements and increasing transaction volumes. By merging Xceptor Tax with Broadridge's Global Tax & Client Reporting Solution, the partnership delivers an end-to-end solution that enhances compliance and minimizes risks associated with multi-jurisdictional tax relief-at-source and tax reclaims.

The integration aims to improve accuracy and efficiency in tax operations by automating data flows, centralizing documentation, and providing regular updates on regulatory changes. Tom Burke, President of Global Asset Servicing at Broadridge, underscores the significance of this partnership in streamlining tax processes for clients, allowing them to swiftly identify Relief at Source (RAS) and Tax Reclaim opportunities while effectively managing their tax documentation. This innovation not only promises to reduce operational risks and costs but also ensures compliance across diverse tax processes and global regulatory frameworks, thereby enhancing the overall service offering for financial institutions.

Moreover, Michiel Verhoeven, CEO of Xceptor, emphasizes that this partnership delivers best-in-class functionality and intelligent data automation, equipping clients with essential tools to navigate increasingly complex tax environments. The integrated platform aligns with Broadridge’s goal of providing the most comprehensive asset servicing platform available. By addressing the industry's demand for a single, digitized, and scalable solution, Broadridge and Xceptor aim to drive significant advancements in tax operations, enhancing control, visibility, and scalability for financial institutions worldwide.

In other related developments, Broadridge continues to focus on technological innovations that resonate with the industry's needs, reinforcing its stance as a leader in the financial services sector. The collaboration with Xceptor is a testament to the company's commitment to evolving its service offerings to meet the challenges posed by modern financial regulations and operational requirements. This partnership signifies not just a technological upgrade but a strategic move towards more efficient and compliant tax operations in a rapidly changing environment.