New Broadridge Financial Solutions Service Enables Businesses to Benefit From Instant Payments

Broadridge Financial Solutions, the investor communications and technology-driven solution provider, has launched a new managed service for connectivity, message processing and workflow management for instant payments.

Through its new Instant Payments Service, Broadridge supports real-time money transfers, operating constantly, with transaction processing times of under 10 seconds from payer to beneficiary.

Broadridge’s Instant Payments Service utilises the Swift Alliance Gateway Instant (AGI), which offers a highly resilient infrastructure designed specifically to support instant payment messages, connecting with SwiftNet Instant to offer 24/7 availability and continuous and efficient exchange of instant transactions.

Instant payments are expected to become the industry standard, particularly for recurring transactions such as bill payments. The growing adoption of request for payments is anticipated to further drive this shift, making instant payments the preferred method for financial services.

“This innovative technology stack enables businesses and individuals to benefit from instant payments across a variety of use cases, from payroll to refunds, enhancing both operational efficiency and customer satisfaction,” explained Heidi Dittmar, head of Broadridge’s Swift services business and country head for Germany.

The launch of Broadridge’s Instant Payments service also aligns with recent EU regulations mandating the facilitation of euro instant credit transfers. These regulations are expected to accelerate the adoption of instant payments across Europe, with key compliance deadlines set for 2025. Broadridge’s infrastructure supports these requirements in full, ensuring financial institutions are well-positioned to meet the new standards.

While currently focused on the Eurozone, which encompasses 20 countries, Broadridge’s Instant Payments service is well-positioned for global expansion as it adapts to evolving regulatory requirements and growing customer demand worldwide.

“We’re committed to helping financial institutions stay ahead in an evolving regulatory landscape while delivering seamless, real-time payment experiences for their customers,” said Kai Marzenell, director of Swift product management at Broadridge. “Our Instant Payments service not only enables compliance with new EU regulations but also positions banks and payment service providers to capitalise on future innovations in the global payments ecosystem.”

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