Broadridge has announced the launch of its Instant Payment Service, designed to support real-time money transfers and continuous exchange of instant transactions. Following this announcement, the new product was developed as a resilient and scalable managed service for connectivity, message processing, and workflow management for instant payments and transactions.

The Broadridge solution is expected to support real-time money transfers while operating 24/7/365, with transaction processing times from payer to beneficiary being quicker and safer. In addition, Broadridge will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More information on the Broadridge Instant Payments Service launch According to the official press release, Broadridge’s Instant Payments Service leverages the Swift Alliance Gateway Instant (AGI), which provides a resilient infrastructure designed to support instant payment messages.

In addition, it also connects with SwiftNet Instant in order to offer 24/7 availability and continuous and efficient exchange of instant transactions. The launch of the Instant Payments Service also aligns with the recent EU regulations that mandated the facilitation of EUR instant credit transfer. The new laws are expected to accelerate the overall adoption of instant payments across the region of Europe, with several key compliance deadlines being set for 2025.

Broadridge’s infrastructure supports these requirements in full, making sure that financial institutions are well-positioned to meet the new standards. Furthermore, the new solution is well-positioned for global expansion as it adapts to evolving regulatory requirements, as well as the growing customer demand across the world.  The product is expected to enable companies and individuals to benefit from instant payments across a variety of use cases, from payroll to refund, aiming to accelerate its development across the landscape as well. .