Broadridge Launches Wealth Lending Network Marketplace
02/22/2021 - 09:00 AM
NEW YORK , Feb. 22, 2021 /PRNewswire/ -- Broadridge Financial Solutions , Inc. The Bancorp, Inc. (NASDAQ: TBBK) is joining the marketplace as its inaugural funding partner through its subsidiary, The Bancorp Bank.
"The Wealth Lending Network is an exciting evolution of the market's dynamic – connecting the supply-and-demand sides on a trusted lending platform that creates value for lenders, advisors and their clients," said Mike Alexander , President of Wealth Management, Broadridge. "We are focused on building value-added services in a way that makes business substantially easier and more robust for our clients – whatever their size. The marketplace opens up the SBL market to drive growth for clients by facilitating market access, funding, technology, credit risk management and sales enablement."
Demand for SBL credit continues to grow, proving attractive to both borrowers looking to access liquidity in their portfolios and to lenders as a low-cost, low-risk credit offering. For lenders, SBL offers a high-quality revenue stream with a low-risk profile and a low cost of capital. The Broadridge Wealth Lending Network extends current lending models, enabling financial institutions, such as independent broker dealers, financial advisors and RIAs, to offer SBL to clients on a turnkey basis. By providing flexible credit offerings, advisors can deepen relationships with clients, safeguarding existing AUM and attracting new assets. What had traditionally been a slow and manual process is now digitized, delivering a streamlined and frictionless customer experience."
"The Bancorp is excited to join Broadridge's Wealth Lending Network as its initial funding partner, tapping into this new channel built on Broadridge's market access and proven end-to-end SBL technology," said Jeff Hazelwood , Managing Director of Institutional Banking Solutions, The Bancorp. "Our participation in Broadridge's Wealth Lending Network builds on The Bancorp's ongoing strategic investment in our SBL market leadership."
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4.5 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $10 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 12,000 associates in 17 countries.
For more information about Broadridge, please visit www.broadridge.com .
About The Bancorp
The Bancorp, Inc. (NASDAQ: TBBK) is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company's subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank and a top ACH originator. Specialized lending distinctions include SBA National Preferred Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the nation. For more information, please visit www.thebancorp.com .
Investors:
W. Edings ThibaultEdings.Thibault@Broadridge.com
Andres Viroslav aviroslav@thebancorp.com
Media:
Tina Wadhwa Tina.wadhwa@broadridge.com
Rachel Weiss rweiss@thebancorp.com
Kathleen Hayn kahayn@thebancorp.com
http://www.prnewswire.com/news-releases/broadridge-launches-wealth-lending-network-marketplace-301231653.html
SOURCE Broadridge Financial Solutions, Inc.
