Kyndryl Completes Sale of Securities Industry Services Platform
New York, Nov. 1, 2024 /PRNewswire/ — Kyndryl (NYSE: KD), the world’s largest technology infrastructure services provider, today announced that it has completed the previously announced sale of its transaction processing platform for the securities brokerage industry in Canada, known as Securities Industry Services (SIS), to Broadridge Financial Solutions, Inc.
About Kyndryl
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day.
The completion of the sale of the Securities Industry Services platform marks a strategic move for Kyndryl, allowing the company to focus on its core services and solutions for its global customer base. By divesting this particular asset, Kyndryl can streamline its operations and optimize its offerings to meet the evolving needs of the market.
With Broadridge Financial Solutions, Inc. acquiring the SIS platform, customers in the securities brokerage industry in Canada can expect enhanced services and support as Broadridge brings its expertise and capabilities to further develop and expand the platform’s capabilities. This transition is aimed at providing a seamless experience for SIS users and ensuring continuity in their operations.
For Kyndryl, this strategic decision reflects its commitment to driving innovation and excellence in IT infrastructure services. By aligning its resources and focusing on its core strengths, Kyndryl is poised to continue delivering best-in-class solutions to its clients around the world.
How Will This Affect Me?
As a customer of Kyndryl or a user of the Securities Industry Services platform, you can expect a smooth transition to Broadridge Financial Solutions, Inc. Broadridge’s expertise in the financial services industry will likely result in enhanced services and support for users of the platform, ultimately improving the overall user experience.
How Will This Affect the World?
The sale of the SIS platform to Broadridge Financial Solutions, Inc. highlights the evolving landscape of the technology infrastructure services industry. This move showcases the strategic realignment of resources by leading companies to optimize their offerings and meet the changing needs of the global market. As Kyndryl focuses on its core services, Broadridge’s acquisition of the SIS platform demonstrates a commitment to innovation and growth in the financial services sector.
Conclusion
The completion of the sale of the Securities Industry Services platform reflects Kyndryl’s strategic focus on its core IT infrastructure services. With Broadridge Financial Solutions, Inc. acquiring the SIS platform, customers can expect continued excellence in services and support, while the global technology industry witnesses the impact of strategic realignments and market optimizations.
