Broadridge Partners with Zumbox to Transform the $20 Billion Financial Services Firms Spend Annually on Customer Communications
LAKE SUCCESS, N.Y., April 22, 2013 /PRNewswire/ -- With pressure increasing on financial markets firms to transform business models and reduce costs, Broadridge Financial Solutions, Inc. (NYSE: BR) announced a strategic partnership with Zumbox intended to dramatically reduce the $20 billion that financial services firms spend annually1 on printing and distribution of paper-based customer communications. Under the terms of the agreement, Broadridge is adding the Digital Postal Mail service powered by Zumbox to the set of channels supported by Broadridge FluentSM, a communications exchange that centrally manages communications across customer-preferred channels and provides a more efficient way to deliver digital communications easily and cost-effectively. The partnership will further help firms redirect physical mail into interactive digital communications delivered to investors and shareholders.
On an average per unit basis, digital mail costs less than half as much as a paper-based mailing. A recent survey by InfoTrends showed that over 70 percent of consumers under the age of 35 were willing to try digital mail1. Digital Postal Mail is a secure, web-based postal system that offers a digital alternative to physical mail.
"With increased usage of tablets, mobile devices, and applications, consumers are accessing information in ways that weren't feasible just a few years ago," said Doug DeSchutter, President, U.S. Regulatory and Digital Communications, Broadridge. "As a result, consumers have higher expectations for ease of use and how they obtain and digest information. Services like Zumbox Digital Postal Mail offer a rich user experience for consumers, and can result in significant cost savings for firms. It's a win-win."
Offering the Digital Postal Mail platform as an additional channel on the Fluent platform enhances the consumer experience and engagement by allowing customers of financial firms to choose the communications channels they prefer. All communications delivered through the platform support the brand standards of individual firms.
"Broadridge is at the forefront of a movement to provide consumers choice in communication channels," said John Payne, CEO of Zumbox. "This strategic partnership provides Fluent with an important new channel for the communication of proxy documents and other important shareholder communications."
The Digital Postal Mail service provides customers with a free, cloud-based mailbox linked to their residential street address and delivers exact facsimiles of paper mail. With it, people can receive, view, archive, and search through their digital post in a single, secure online environment.
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,200 full-time associates in 13 countries.
For more information about Broadridge, please visit www.broadridge.com.
About Digital Postal Mail and Zumbox
Digital Postal Mail powered by Zumbox, Inc. is leading the global migration of traditional postal mail to the digital cloud. Based in Los Angeles, the company operates a system with reach to 120,000,000 consumer households in the United States and operates around the world via licensing and Joint Venture arrangements through Zumbox Software Inc. Digital Postal Mail is available on the web at www.digitalpostalmail.com and the Digital Postal Mail iPad® app can be found on the Apple Store at http://itunes.apple.com/us/app/id517438820?mt=8 .
1 Source: The Emergence of Digital Mailbox Services, InfoTrends
SOURCE Broadridge Financial Solutions, Inc.