Proxymity, the investor communications platform, in partnership with Mediant, the investor communication solutions provider, has launched its new Vote Connect feature. This enables real-time processing and accurate reporting of the North American proxy voting ecosystem for custody banks, financial intermediaries, and their customers.
Eliminating both overvoting and under-voting, the new Proxymity feature deciphers the digital pathway between any connected issuer and shareholder. In addition, it enables rapid reporting and correction. Vote Connect offers real-time holdings reconciliation. It also allows intermediaries to track every ballot generated on their positions.
Jonathan Smalley, COO and co-founder, Proxymity added: “The launch of Vote Connect Total in the North American market introduces a step-change for the global financial ecosystem. It realises Proxymity’s long-held ambition to deliver unique value and choice to our customers in both the US and Canada.
“We’re grateful for our collaboration with Mediant whose 20-year experience will help to accelerate the pace with which we can deliver the Proxymity experience across all general meetings in North America to our custodian and institutional customers.”
Traditional options for digital voting rely on batch processing. However, due to human error and other issues, overvoting or undervoting of shares often took place, messing with the final result. This solution tackles this by ensuring transparency throughout the entire process. All connected parties in the chain of custody can track ballot distributions and voting instructions throughout the voting window.
Proxymity Vote Connect is accessible to all financial intermediaries via Proxymity’s proprietary API which allows for the economic and efficient transmission of data. In turn, this ensures maximum privacy and security of shareholder information. The solution supports a full suite of communication channels, via Proxymity and Mediant’s proprietary software, and enables global coverage for proxy vote processing.
Sherry Moreland, president, Mediant commented: “Our decision to invest in Proxymity in 2022 and power its Vote Connect Total solution in our local markets showcases the best mix of financial innovation and service delivery excellence. We’re leveraging the strengths of both organizations to radically improve the experience for custodians, other financial intermediaries, and stakeholders.”
