Growing Need for Operational and Cyber Resilience Dominates Concerns Among Financial Services Industry
Outdated legacy systems leaving firms vulnerable to mounting cyber risks, according to Broadridge
NEW YORK, May 7, 2025 /PRNewswire/ -- Growing concerns over operational and cyber resilience were the major theme of the SIFMA Ops 2025 conference, a gathering of top operations and technology leaders from across the capital markets ecosystem.
The threat landscape is only becoming increasingly more sophisticated with artificial intelligence and other new tools to automate attacks. With high-profile data breaches, ransomware attacks, and system failures happening more frequently the importance of being prepared and protected against these growing risks has never been more important.
Broadridge's recently released Digital Transformation & Next-Gen Technology Study found that 83% of firms have made cybersecurity a strategic imperative, and nearly 90% are making moderate to large investments in cybersecurity this year. This theme around operational and cyber resiliency was echoed in remarks by Broadridge CEO, Tim Gokey, and other industry leaders throughout the conference.
"The combination of higher volatility, shorter settlement cycles, and the growing risk from cyber bad actors, have made operational and cyber resilience a critical priority for our financial services clients," said Neha Singh, Broadridge's Head of Post-Trade Transformation at Broadridge Financial Solutions. "It's no longer a conversation about if a cyber event will happen, but how prepared they will be for recovery when it does, which is why nearly 50% of our post-trade clients have adopted our enhanced cyber recovery solution"
Broadridge's enhanced cyber recovery (Immutability and Repave) solution and services bolsters financial organizations' operational resilience as cyber threats become more sophisticated and prevalent. By deploying secure immutable storage, these solutions create unalterable, point-in-time copies of client and other critical data to enable swift restoration of services in the event of a cyber incident. Broadridge is also engaged with large global firms on collaborative assessments to design firm-specific recovery playbooks that improve preparedness.
About Broadridge
Broadridge Financial Solutions (NYSE:BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
For more information about us, please visit www.broadridge.com.
Broadridge Contacts:
Investor Relations
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SOURCE Broadridge Financial Solutions, Inc.