NEW YORK & PLEASANTON, Calif.--(BUSINESS WIRE)--UBS Wealth Management Americas and Certent today announced the launch of their Next Generation Direct Broker Interface (DBI), an enhanced data transfer process which enables plan administration and transaction solutions for their joint clients. The two firms have been collaborating to serve mutual clients since early 2008.
UBS Equity Plan Advisory Services offers plan administration and transaction solutions to more than 170 companies representing one million-plus participants in over 150 countries. UBS works with Certent to service a significant portion of its partial administration business. The enhanced DBI delivers a more robust and reliable data interface, including data transmission for cash-settled restricted stock units and related tax events, allowing greater visibility for participants into their portfolio of holdings. The DBI also supports stock options, restricted stock awards/units, performance awards/units, SARs and ESPPs. Additional enhancements to the DBI include support for retirement eligibility processing and more dynamic tax withholding capabilities.
“UBS is dedicated to continually improving our client experience, and this upgrade allows equity recipients to access a more complete view of their portfolio through our UBS One Source participant website,” said David Bienstock, Head of Product Development and Client Solutions for UBS Equity Plan Advisory Services. “This investment in Next Generation DBI represents a continued commitment to our relationship with Certent, as well as to the partial administration space as a whole.”
“To build our data integration capabilities, including the DBI with UBS, we have invested in one of the best-in-class, enterprise grade IPaaS solutions, Dell Boomi,” said Mobeen Bajwa, senior vice president for products at Certent. “This technology investment advances our data integrations between systems, which are core to our business. We have rolled out several integrations already using this technology, with more scheduled later this year.”
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About UBS Wealth Management Americas
UBS is committed to providing private, institutional and corporate clients worldwide, as well as retail clients in Switzerland, with superior financial advice and solutions while generating attractive and sustainable returns for shareholders. Its strategy centers on its Wealth Management and Wealth Management Americas businesses and its leading universal bank in Switzerland, complemented by its Global Asset Management business and its Investment Bank. These businesses share three key characteristics: they benefit from a strong competitive position in their targeted markets, are capital-efficient, and offer a superior structural growth and profitability outlook. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates. Capital strength is the foundation of its success.
The Equity Plan Advisory Services (EPAS) department of UBS Wealth Management Americas delivers first-class equity compensation plan services and support for stock options, restricted grant awards, performance grant awards, stock appreciation rights and employee stock purchase plans.
Certent makes it easier for companies to meet their financial compliance requirements. Certent's user-friendly, web-based technology streamlines equity plan management, financial reporting for ASC718, and financial filings (in XBRL and HTML) with the U.S. SEC. With technology based on in-depth accounting expertise, an open ecosystem of industry partners, and an expert services organization focused on customer success, Certent has helped more than 1,300 companies worldwide innovate their financial compliance processes.