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NEW YORK, N.Y. – February 22, 2021– Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, has launched a Wealth Lending Network marketplace to connect wealth managers to banks and other financial services institutions. The marketplace will enable wealth managers of all sizes to offer Securities-Based Lending (SBL) services to their clients using Broadridge’s end-to-end SBL technology platform. 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 inaugural 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.”
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge’s technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries. For more information about us and what we can do for you, please visit www.broadridge.com.
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.
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