Maybank has partnered with Broadridge to evolve its securities borrowing and lending (SBL) business division.
The Malaysian bank said that the ability for Broadridge’s Finance and Collateral Management (SFCM) to interface with downstream systems enables automation and straight-through processing (STP) that will result in “enhanced client experience and better cost management”, noting that its scalability also offers flexibility to “expand into other regions seamlessly”.
Tengku Ariff Azhar, chief operating officer at Maybank, said the partnership enabled it to “swiftly” bring its product to market while adhering to the regulatory framework provided by Bursa Malaysia.
“We target to be the first in Malaysia to offer Shariah-compliant SBL for retail investors next year,” he added.
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