Press Release

Congruent Solutions and Broadridge Announce Strategic Partnership to Automate Fund Custody and Settlement

Issued by Congruent

July 9, 2025

Burlington, MA / Chennai, India – Congruent Solutions, a specialist technology partner to the U.S. retirement industry, announced a strategic partnership with Matrix Settlement & Clearance Services, LLC (“Matrix”), a subsidiary of Broadridge Financial Solutions, Inc. (NYSE: BR) and a leading provider of mutual fund trading and settlement solutions for customer accounts supported by recordkeepers, third-party administrators (TPAs), banks, trust companies, and registered investment advisors (RIAs).

As part of this collaboration, plan providers using Congruent’s CORE platform—a cloud-native, API-first platform built to transform the retirement plan experience—can now seamlessly integrate with Broadridge’s trading and settlement solutions for retirement plan recordkeepers. This includes straight-through processing for mutual funds, ETFs, and CITs via Broadridge’s trust system CC360. The integration will automate key processes such as distributions and tax reporting—streamlining operational efficiency for defined contribution (DC) plans.

This integration is a major milestone in Congruent’s journey to build a connected marketplace for the 401(k) ecosystem, streamlining plan operations, increasing transparency, and enhancing participant outcomes. Through this synergy, Congruent empowers TPAs, recordkeepers, and other plan providers with easy access to Broadridge’s transaction capabilities, reducing manual work, improving speed, and elevating the overall experience for stakeholders in the retirement value chain. “At Congruent, we’re building more than a platform—we’re creating a marketplace that unlocks value across the retirement ecosystem,” said Mahesh Natarajan, Chief Revenue Officer, Congruent Solutions. “Our connection with Broadridge ensures that our clients can now execute transactions efficiently and securely, with the confidence of working with a proven industry leader.”

“We are thrilled to collaborate with Congruent Solutions as they seek to power the next generation of retirement plan infrastructure,” said Joe Matarazzo, Vice President and Interim GM, Broadridge Retirement and Workplace Solutions. “This integration helps further our mission of bringing speed, automation, and compliance to mutual fund trading for institutions serving the retirement space.”

The collaboration reflects both companies' shared commitment to innovation, automation, and excellence in service delivery for the U.S. retirement industry.

For more information about the CORE platform and partnership opportunities, please visit www.congruentsolutions.com.

About Congruent Solutions

Congruent Solutions has been a trusted specialist in product- and technology-driven services for the retirement industry since 2004. Its CORE SaaS platform, IPX Retirement Edge—a technology solution that enables guaranteed income solutions within Defined Contribution Plans—and its outsourced plan administration services empower leading Fortune 500 plan providers, carriers, and third-party administrators to solve business challenges and prepare for the future.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative solutions that help clients and the financial services industry operate, innovate, and grow. It powers investing, governance, and communications—driving operational resiliency, enhancing business performance, and transforming investor experiences.

Broadridge’s technology and operations platforms process and generate over 7 billion communications annually and support the daily trading of more than $10 trillion in securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates across 21 countries. For more information, please visit www.broadridge.com.

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.