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Broadridge to Acquire TD Ameritrade Retirement Plan Custody and Trust Assets

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Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, today announced it has entered into a purchase agreement to acquire the retirement plan custody and trust assets from TD Ameritrade Trust Company, a subsidiary of TD Ameritrade Holding Company (Nasdaq: AMTD). The acquisition will expand Broadridge’s suite of solutions for the growing qualified and non-qualified retirement plan services market and the support it provides for third-party administrators, financial advisors, record-keepers, banks, and brokers.

The acquisition of TD Ameritrade’s retirement plan custody and trust assets represents the continued expansion of Broadridge’s Matrix Financial Solutions (“Matrix”), a best-in-class mutual fund and ETF trade processing platform for the retirement industry with access to more than 25,000 funds. This additional capacity to provide directed trustee, custody, mutual fund, and ETF trading services enables Broadridge to meet an even greater variety of client needs, unlock new growth opportunities and serve a broader set of retirement stakeholders. Upon closing of the transaction, Matrix is expected to have approximately $420 billion in assets under administration and over 118,000 plan accounts in custody.

“The TD Ameritrade trust and custody assets are a strong complement to Broadridge’s established mutual fund and retirement business, and uniquely positions us as one of the largest neutral, independent service providers of custodial and sub-custodial solutions,” said Broadridge Head of Mutual Fund and Retirement Solutions, Michael Liberatore. “The acquisition represents the next step forward in Broadridge’s strategy of serving a broader set of retirement stakeholders and unlocking new opportunities for our clients.”

“After careful consideration, we decided to exit a part of our retirement plan trust business, one that’s better served by a scale player dedicated to expanding and investing in this business. Broadridge is a leader in this space with the proven technology and experience to provide advisors with access to innovative solutions and high-level client service,” said Tom Nally, President of TD Ameritrade Institutional. “With this deal, TD Ameritrade Institutional can increase its focus on developing and delivering industry-leading technology, products and service that can help independent RIAs grow and compete.”

TD Ameritrade Institutional, a division of TD Ameritrade, Inc. that provides custody and brokerage services to more than 7,000 independent registered investment advisors, will continue offering the TD Ameritrade Retirement Plan (TDARP), a turn-key solution for advisors that combines record-keeping, administration and other plan services in one convenient bundle. TD Ameritrade Institutional will maintain its TDARP sales, service and marketing teams as well as its vendor relationships with TDARP service providers.

Terms of the deal were not disclosed. The transaction is expected to be completed in the second quarter of the calendar year, subject to customary closing conditions and regulatory approvals.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to TD Ameritrade.

 

SOURCE Broadridge Financial Solutions, Inc.

Fintech

Accura Scan, The Only Certified Biometric Solution Provider in Middle East & Africa for Banks and Telcos

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Global Identity Verification and Digital KYC solutions provider, Accura Scan is pleased to announce being awarded ISO/IEC 30107-03 compliance after passing a presentation attack detection (PAD) iBeta Level 2 audit with 0% FAR, making it one of the few companies worldwide and the only in IndiaSingapore, APAC & Middle East to have such a recognition.

As part of the testing procedure to assess the performance of Accura Scan face biometric liveness system, which is already being used by clients globally, it was successfully tested with millions of data points in alpha & beta testing modes. Its algorithms were pitted against various forms of spoofing attempts, including but not limited to 3D-printed and curved masks, silicone and paper masks, and videos of real subjects.

Yasin Patel (YP), Accura Scan’s CEO & Founder, expressed great pride in the achievement, adding, “Obtaining the ISO 30107-03 standard after passing the rigorous iBeta level 2 test demonstrates the effectiveness of our solutions against spoofing attacks.” He further announced that in keeping with their motto of ‘Biometrics for All’, Accura Scan would be offering its trusted Identity Verification Suite for free to all start-ups, while established entities would be offered various modules for as little as USD 5,000 a year onwards.

Commenting on this feat, Director – International Sales, Reza Writer, added, “Ambition greater than resources is in the DNA of Accura Scan. We have achieved this feat with a very small but highly skilled & dedicated team that has executed the organizational goal beautifully.”

The ISO 30107-3 framework measures a biometric system’s false acceptance rate (FAR) and false rejection rate (FRR) at the point of presentation. Passing the evaluation with an FAR of 0%, means that the company’s biometric algorithms offer a high level of spoof resistance in all environments.

Headquartered in India, Accura Scan has been completely bootstrapped & profitable since its incorporation. It has firmly established itself in the MENA region over the last 4 years, working with some of the most esteemed Banks, Telecoms & Fintechs globally. As a part of its global strategy, it has now registered itself in Singapore, the EU, the UK, & the US. With top-notch Identity Verification & Digital KYC products, it is confident of making a mark in these markets.

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BIM Exchange integrates traditional currency option for buying and selling cryptocurrencies

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BIM Exchange revolutionizes the purchase of crypto-currencies: implicity and security guaranteed

BIM Exchange, the French pioneer of crypto-currency exchange platforms, today announces a major breakthrough in the ease of access and security of crypto transactions. With its new feature, it has never been easier to buy and trade crypto-currencies, bridging the gap between the traditional Web and Web 3.0.

Integration of payments in tradtional currencies: Euro, Dollar, Pound Sterling and Swiss Franc

BIM Exchange now enables its users to buy crypto-currencies directly by bank transfer in less than 24 hours, regardless of their currency. The funds are then securely transferred to the user’s decentralized wallet, such as Ledger, TrustWallet, MetaMask or other.

This method considerably simplifies access to digital currencies, while guaranteeing maximum security.

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Monzo founder talks Prosper. Company sees incredible demand for its Crowdfund, smashing 130% of its target, raising over £785,000.

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Having recently announced its crowdfund was open to the public and with a little more than a week to go, Prosper today confirmed it has hit 130% of its funding target, raising over £785,000.

The company is backed by some of the biggest names in fintech. One of those, Tom Blomfield, the founder and former CEO of digital bank Monzo, said:

“The crowdfunding community was vital to Monzo’s growth and helped us engage with our early users. Like Monzo, Prosper is a customer champion brand shaking up the wealth industry. As I invested in Prosper, it became clear that speaking to the community would also play a part in their journey. It’s only the beginning, but I’m excited to help more people prosper!”

Monzo’s first crowdfunding campaign raised just under £1m at a £30m valuation. Today, that valuation stands at “around £4 billion”, according to Sky News. With a week of its own crowdfund still to go, Prosper hopes to build on that success, already closing in on Monzo’s original raise achievement.

“We’ve been blown away by the demand we’ve seen from our community. It’s a testament to the value we can create building a customer-championing business in the world of saving and investing,” said founder and CEO Nick Perrett.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.

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