Fintech leader Banco Santander introduces blockchain for investor voting at AGM

By Johan De Mulder

Banco Santander, the Spanish bank with a leading position in fintech innovation, has revealed that it introduced blockchain technology to its investor voting process at this year's AGM.

Working in collaboration with Broadridge, a US-based fintech specialist, Santander's blockchain pilot allowed investor votes to be counted far quicker than what is achievable via conventional methods.

Businesses are chasing solutions ahead June 2019's European Directive on Shareholder Rights, which will require sharing information among intermediaries on the same business day.

See also:


According to a statement from Broadridge, its Quorum blockchain platform 'enhances global proxy vote transparency and increases operational efficiency, security and analytics, which is beneficial for investors, issuers, agent banks and custodian banks'.

"The Annual General Meeting is one of the most important corporate governance events for any listed company," said Sergio Gámez, global head of Shareholders and Investor Relations at Banco Santander.

"In the case of Santander, having very fragmented capital, it is very important to ensure the participation by investors and shareholders, and this year using blockchain technology for the institutional vote has been a great help in terms of transparency and agility across the vote lifecycle."

Patricia Rosch, president of Investor Communication Solutions, International at Broadridge, added: "The successful completion of a second pilot along with the next phase of our blockchain-based proxy voting solution demonstrates Broadridge's continued commitment to developing innovative technology solutions."

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy