NEW YORK, September 14, 2023 (Newswire.com) - Proxymity, the leading digital investor communications platform, in collaboration with Mediant, a BetaNXT business and a leading provider of investor communications technology, today announced the launch of its Vote Connect Total solution to the North American market.
Proxymity, leveraging Mediant's investor communications technology and distribution platform and its own award-winning, internationally proven software solution, is now able to offer transparent and accurate reporting and real-time processing to the North American proxy voting ecosystem for custody banks, financial intermediaries, and their customers. Vote Connect offers real-time holdings reconciliation and allows intermediaries to track every ballot generated on their positions via Proxymity's online, easy-to-use platform. The digital platform highlights exceptions, enabling both rapid reporting and correction. Vote Connect eliminates both overvoting or under-voting with Proxymity's unique ability to decipher the digital pathway between any connected issuer and shareholder.
This collaboration unlocks a fully integrated global and US digital proxy voting solution for custody banks and other financial intermediaries, bringing choice to a sector with limited alternatives. Traditional options continued to rely on anachronistic batch processing fraught with errors, which regularly led to overvoting or under-voting of shares. The lack of digital tracking and limited transparency left both intermediaries and shareholders in the dark about whether their vote was counted. Vote Connect ensures all connected parties in the chain of custody can track ballot distributions and voting instructions throughout the voting window.
Proxymity Vote Connect is accessible to all financial intermediaries via Proxymity's proprietary API which allows for the economic and efficient transmission of data, ensuring maximum privacy and security of shareholder information. The solution supports a full suite of communication channels, via Proxymity and Mediant's proprietary software, and enables global coverage for proxy vote processing.
Sherry Moreland, President, Mediant, commented, "Our decision to invest in Proxymity in 2022 and power its Vote Connect Total solution in our local markets showcases the best mix of financial innovation and service delivery excellence. We're leveraging the strengths of both organizations to radically improve the experience for custodians, other financial intermediaries, and shareholders."
Jonathan Smalley, COO and Co-founder, Proxymity, added, "The launch of Vote Connect Total in the North American market introduces a step-change for the global financial ecosystem and realizes Proxymity's long-held ambition to deliver unique value and choice to our customers in both the US and Canada. We're grateful for our collaboration with Mediant whose 20-year experience will help to accelerate the pace with which we can deliver the Proxymity experience across all general meetings in North America to our custodian and institutional customers."
Adopted by over 65% of FTSE 100 companies, Proxymity connects the world's ecosystem of issuers, intermediaries, and investors digitally in real time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world's largest financial institutions, it is the leading digital investor communications platform, serving over 25 markets worldwide. Proxymity's ground-breaking technology has also been recognized industry-wide, with recent awards including FSTech's "Most Disruptive Technology in the FinTech Sector" and GC Magazine's "FinTech of the Year (Asia) 2023."
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as "golden source" and provide institutional investors with the time to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations such as the Shareholder Rights Directive (SRD II).
The company is backed by a global consortium of the industry's most influential financial institutions, representing seven of the world's top ten Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street).
For more information, visit www.proxymity.io
Media contact [email protected]
About Mediant, a BetaNXT business
Mediant is a BetaNXT business.
BetaNXT powers the future of connected wealth management infrastructure software, leveraging real-time data capabilities to enhance the wealth advisor experience. Combining industry expertise with the power of our proven Beta, Maxit and Mediant businesses, we are focused on solving our customers' most demanding integration challenges with flexible, efficient, connected solutions that anticipate their changing needs. Our comprehensive approach reduces enterprise cost, streamlines operations processes, increases advisor productivity, and enhances the investor experience.
Together with BetaNXT, wealth management firms are transforming their platforms into differentiating assets that enable enterprise scale and stimulate commercial growth.
For more information, visit www.betanxt.com.Contact Information:
Sergio Cortes Allsopp
JConnelly on behalf of BetaNXT
Head of Marketing and Communications, BetaNXT
Original Source: Proxymity Launches Vote Connect in the North American Market, Bringing a Breakthrough in Digital Proxy Voting