Broadridge Secures Patent for Blockchain Processes for Proxy Voting

Broadridge Financial Solutions, Inc. announced that the U.S. Patent and Trademark Office granted U.S. Patent No. 9,967,238 (the “238 Patent”) on blockchain technology that will enhance the processes for proxy voting and repurchase, or repo, agreements. Building upon Broadridge’s blockchain-based bilateral repo pilot with two global investment banks, the “238 Patent” demonstrates how Broadridge’s technology can streamline reconciliation processes, improve data management and reduce non-value-added costs. It will also expand Broadridge’s end-to-end proxy solution suite, leveraging the firm’s collaboration with three leading global banking institutions to employ blockchain technology to enhance global proxy vote transparency and analytics.