Proxymity and Mediant’s Vote Connect tool improves investor communication, eliminates voting errors, and offers real-time insights on North American proxy voting.
The investor communication platform Proxymity has introduced its new Vote Connect tool in collaboration with the investor communication solutions supplier Mediant. For custodian banks, financial intermediaries, and their clients, this provides accurate reporting of the North American proxy voting ecosystem in real-time.
The new Proxymity feature unravels the digital link between any connected issuer and shareholder, eliminating both overvoting and undervoting. It also makes quick reporting and correction possible. Vote Connect provides holdings reconciliation in real time. Additionally, it enables intermediaries to monitor each vote cast in support of their positions.
“The launch of Vote Connect Total in the North American market introduces a step-change for the global financial ecosystem,” continued Jonathan Smalley, COO and co-founder of Proxymity. It satisfies Proxymity’s long-held desire to provide our consumers in the US and Canada distinctive value and variety.
We are appreciative of our partnership with Mediant, whose 20 years of experience will hasten the pace at which we can provide our custodian and institutional customers the Proxymity experience at all general meetings in North America.
Batch processing is a common method for digital voting. However, overvoting or undervoting of shares frequently occurred due to human error and other problems, messing up the outcome. By guaranteeing transparency throughout the entire process, this method addresses the issue. Throughout the voting time, all participants in the chain of custody are able to follow the distribution of ballots and voting instructions.
Moreover all financial intermediaries have access to Proxymity Vote Connect using the company’s exclusive API, which enables the quick and inexpensive transfer of data. In turn, this guarantees that shareholder information is as private and secure as possible. The system allows global coverage for the processing of proxy votes and supports a full range of communication channels via Proxymity and Mediant’s proprietary software.
The decision to support Proxymity’s Vote Connect Total solution in our local markets in 2022, according to Mediant President Sherry Moreland, “displays the best blend of financial innovation and service delivery excellence.” To significantly enhance the experience for custodians, other financial intermediaries, and stakeholders, we are utilizing the strengths of both businesses.
