Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Skandinaviska Enskilda Banken AB (SEB) is leveraging Broadridge’s international post-trade processing solution to simplify and streamline its securities business across international and domestic markets.

“As a leading European bank with operations in more than 20 countries, and servicing a global client base, it was important for us to partner with a technology partner that can enable our global post-trade operations to be best in class,” said Kristian Gårder, co-head of Equities, SEB.  “Broadridge is a tech leader that has enabled us to advance from discrete, asset-specific systems to a unified and strategic solution that delivers increased simplification, frictionless workflow efficiency, real-time business-wide management controls, and the ability to respond effectively to new market requirements and our customers’ evolving needs.”

SEB is an established, long-standing user of Broadridge’s front and middle office solutions for order management, trade execution and allocation, and has now extended for post-trade processing. As a result, the bank now benefits from a strategic front to back-office infrastructure that simplifies and optimizes trading workflows and operations across international markets with advanced, straight-through solutions that deliver efficiency, scale and resilience at every stage of the securities trade lifecycle.

“We are excited to support SEB across its full trade lifecycle, bringing transformation and innovation across its securities businesses in the Nordic region and the wider international markets,” said Danny Green, Head of International Post-Trade Solutions, Broadridge. “In today’s markets, investing in post-trade efficiency is of paramount importance, and leading firms such as SEB are now in a stronger position to tackle the combined challenges of shrinking settlement periods, regulatory change and client service differentiation, while optimizing cost/income ratios and reducing risk.

Broadridge is focused on optimizing trading and connectivity, simplifying post-trade and delivering transformation and innovation for clients. To find out more about Broadridge’s solutions for the trade lifecycle, visit our website.

The post SEB Implements Broadridge’s International Post-Trade Processing Solution appeared first on HIPTHER Alerts.

Funding round led by Warburg Pincus with participation from SoftBank Vision Fund 2

SAN JOSE, Calif., Sept. 25, 2024 /PRNewswire/ — Whatfix, a global leader among digital adoption platforms (DAPs), today announced it has secured $125 Million in a Series E funding round, led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2. The company is raising the new round at a significant premium, reinforcing its dominance as the leader in Digital Adoption Platforms (DAPs) and expanding into DAP adjacent offerings.

The investment will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions. The company also aims to expand its market presence in the US, EMEA, and APAC regions to strengthen its footprint in the global public sector.

Since its funding round in 2021, Whatfix has achieved remarkable growth, solidifying its position as a leader in the newly established DAP category. The company serves a marquee global clientele, including Arrow Electronics, Schneider Electric, and Avnet, along with partners like Microsoft, Salesforce, Infosys, and Accenture, who trust Whatfix to accelerate ROI on their technology investments. Supporting 80+ Fortune 500 companies, Whatfix registered top-decile performance with a 4.5X increase in annual recurring revenue (ARR) since its 2021 round, with new products contributing 15% of revenue.

Pioneering the concept of “Userization,” Whatfix shifts responsibility to technology, ensuring it adapts to users, not the other way around. By integrating GenAI throughout its product suite, offering digital adoption, product analytics, and application simulation, Whatfix accelerates this user-first approach, building an experience layer across the enterprise software stack. This empowers enterprises to maximize technology ROI while allowing employees to build greater efficiency.

“Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences,” said Khadim Batti, CEO and co-founder of Whatfix. “Whatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline. This investment will add more fuel to the tank, accelerating a new era of innovation for our industry, bolstering the unparalleled value we bring to our customers, and reshaping the future of software adoption.”

As per Gartner’s 2023 Market Guide, 70% of organizations are projected to use DAPs by 2025, highlighting the critical role digital adoption platforms play in driving enterprise success. Leading this transformation, Whatfix has been the top DAP on Deloitte Tech Fast 500™ for three consecutive years and is the only DAP vendor to receive Customer’s Choice in the Gartner Peer Insights 2024 Voice of Customers for DAP report. Additionally, Whatfix is consistently recognized as a market leader in DAP reports from Gartner, Forrester, IDC, and the Everest Group.

“As organizations rapidly adopt an evolving array of AI-enabled technologies, Digital Adoption Platforms (DAPs) have become essential for successfully navigating digital transformation,” said Amy Loomis, Research Vice President, Future of Work at IDC. “DAPs provide valuable insights, empower users to be more agile, and drive significant business outcomes by accelerating application adoption and optimizing workflows. DAPs will evolve to address a broader range of enterprise needs, including AI-specific challenges, solidifying their role as a preferred approach to maximizing software ROI. By 2027, IDC predicts that 80% of G1000 organizations will rely on DAPs to mitigate technical skills shortages.”

Narendra Ostawal, Managing Director, Head of India Private Equity, Warburg Pincus, said, “Whatfix’s unique digital adoption platform is revolutionizing how organizations implement digital transformation programs, create outstanding user experiences, and empower users to fully leverage software functionalities and enhance productivity. As a partner of choice for top global enterprises across industries, we believe Whatfix has immense potential to capitalize on the tailwinds and solidify its position in the high-growth DAP market. We are delighted to partner with the Whatfix team led by Khadim and Vara, as they steer the company towards its vision and goal.”

Narendra Rathi, Investment Director, from SoftBank Investment Advisers, added, “Since our initial investment in 2021, we are pleased to see Whatfix’s strong growth and sustained innovation. Their role in the digital transformation journeys of Fortune 500 companies is a testament to their customer focus. We are excited to continue backing Khadim and Vara as they enter their next phase of growth.”

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“From day one, Whatfix has truly put us, the customer, first,” said Jochen Heidner, Project Manager of Purchasing Systems at Mercedes-Benz and Whatfix customer for the CERTUS CC project. “Their digital adoption platform (DAP) has been instrumental in the CERTUS digital transformation journey, simplifying complex processes and empowering our teams to achieve more. What’s truly remarkable is their exceptional customer support—they’ve been helpful, and genuinely nice and supportive every step of the way.” 

Adam P. Burden, Global Innovation Lead from Accenture LLP, said, “Software is more user-centric than ever, and Whatfix is at the forefront of this innovation in user enablement. With Whatfix, you can tailor applications to each user’s workflow, optimize efficiency and create great outcomes. By using Whatfix’s AI-powered product suite—including application simulation, analytics, and digital adoption—our clients can better leverage both their existing and new technology investments. With the capabilities of Whatfix, we’re able to build products where the software serves the user, not the other way around. We look forward to our continued success together.”

Whatfix has been contributing to the industry by developing over 4,100 DAP experts since 2021 and remains committed to cultivating more in the years to come.

About Whatfix
Whatfix is advancing the “userization” of application technology, by empowering companies to maximize the ROI of digital investments across the application lifecycle. Powered by GenAI, Whatfix’s product suite includes a digital adoption platform, simulated application environments for hands-on training, and no-code application analytics. Whatfix enables organizations to drive user productivity, ensure process compliance, and improve user experience of internal and customer-facing applications. With seven offices across the US, India, UK, Germany, Singapore, and Australia, Whatfix supports 700+ enterprises, including 80+ Fortune 500s like Shell, Microsoft, Schneider Electric, UPS Supply Chain Solutions, and Genuine Parts Company. Backed by investors such as Warburg Pincus, Softbank Vision Fund 2, Dragoneer, Peak XV Partners, Eight Roads, and Cisco Investments, software clicks with Whatfix. For more information, visit the Whatfix website.

About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.

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Andrew Bateman to drive growth for customers and Finastra

LONDON, Sept. 25, 2024 /PRNewswire/ — Finastra today announced the appointment of Andrew Bateman in the role of EVP, Lending. Andrew is responsible for the leadership and growth of Finastra’s Lending Business Unit.

Andrew said, “Joining Finastra is an exciting step, and I can’t wait to meet the team and our customers and partners to help support their technology modernization journeys. I am captivated by Finastra’s Open Finance approach and alongside its Gen-AI, cloud and API technology strategy I believe in the compelling offerings we bring as a company.”

Reporting to Finastra CEO, Simon Paris, Andrew brings almost 30 years of experience in financial services. He excels in guiding global teams in modernizing technologies through technical agility, supporting customers’ growth agendas. In addition, he is committed to promoting inclusion, diversity and sustainability within the industry, and strongly advocates for workplace wellbeing and open communication.

Simon said, “It is a pleasure to have Andrew on board. He knows the industry inside out and we are confident that his skills will help our lending customers to thrive in an Open Finance environment. Andrew’s commitment to ‘open’ in all senses of the word – technology and communication – complement our vision perfectly and we look forward to seeing this area of our business continue to flourish.”

Andrew joins Finastra from FIS where most recently he was Head of Sales for Corporates and International Banking. He is based in London, England.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of open finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

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