Investor communications platform Proxymity has launched its digital voting service in North America.
Proxymity has teamed up with technology company Mediant to introduce its Vote Connect service. The proxy voting process has faced challenges due to manual procedures and a lack of transparency, leaving many individual investors uncertain about whether their votes at corporate events are accurately recorded.
As a result, there has been a concerted effort from fund managers, custodians, investor services groups, and tech firms to integrate more digital solutions into the voting process. Services like Vote Connect allow intermediaries to track every ballot generated.
Originally established within Citi, Proxymity became an independent operation in 2020 and has since formed partnerships with several fund managers and custodians.