CHICAGO, Aug. 25, 2020 /PRNewswire/ -- Envestnet,
Inc. (NYSE: ENV) announces that The Bancorp Bank, a wholly- owned
subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), has joined the
roster of lenders on the Envestnet Credit Exchange, providing
financial advisors with seamless access to securities-backed lines
of credit.
"We continue to add select, highly qualified lenders to the
Envestnet Credit Exchange to enrich the suite of credit solutions
that enable advisors to help clients manage both sides of the
balance sheet," said John Yackel,
Head of Strategic Initiatives at Envestnet. "The Bancorp's
securities-backed lending product provides advisors and their
clients with broader options for making financial wellness a
reality for more clients."
Registered Investment Advisers (RIAs) and enterprises have
access to The Bancorp's securities-backed loan product through the
Envestnet Credit Exchange, including pre-qualified loan
opportunities to present to their clients. The Bancorp then
simplifies and expedites loan approval through its
Talea™ platform, which automates the approval process,
streamlines application paperwork, and saves time on approval and
funding. For more information, visit
https://www.thebancorp.com/Talea.
"Talea enables speed and simplicity in loan origination for our
Securities-Backed Line of Credit (SBLOC) product, giving
advisors and enterprises the confidence to share trusted client
relationships with The Bancorp," said John Leto, Executive Vice President and Head of
Institutional Banking at The Bancorp. "We are glad to work with
Envestnet and the Envestnet Credit Exchange to offer the benefits
of Talea to more advisors and investors across the country."
The Envestnet Credit Exchange, powered by the Advisor Credit
Exchange (ACx) and launched last year, is available through the
Envestnet platform's sponsor and advisor portals. The Credit
Exchange generates a data-driven selection of pre-qualified loan
opportunities for clients, alongside comprehensive pricing details
and terms for each potential loan.
The Envestnet Advisor Summit On-Demand
(https://www.envestnet.com/advisorsummit) features video content
demonstrating and discussing the Envestnet Credit Exchange in more
detail.
"Advisors can communicate with clients about relevant lending
opportunities with confidence, and demonstrate greater value for
clients, when they harness actionable intelligence from the
Envestnet Credit Exchange," said Peter
Stanton, CEO of the Advisor Credit Exchange. "Expanding
our lineup of respected lenders makes it possible for advisors to
help manage credit for clients as part of a unified advice
offering, while mitigating risk and increasing transparency."
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 103,000 advisors across more than
4,900 companies including 16 of the 20 largest U.S. banks, 46 of
the 50 largest wealth management and brokerage firms, over 500 of
the largest RIAs, and hundreds of FinTech companies, leverage the
Envestnet platform to grow their businesses and client
relationships.
For more information on Envestnet, please visit
www.envestnet.com, subscribe to our blog, and follow us on Twitter
(@ENVintel) and LinkedIn.
Envestnet, Inc. has a financial interest and occupies board of
director positions in Advisor Credit Exchange ("ACE.") ACE provides
access to lending solutions for Advisors and their clients via the
Envestnet Platform through EAM's affiliate, Envestnet Financial
Technologies.
This release should not be construed as a recommendation or
endorsement of any particular product, service, or firm. No lending
decisions are made by Envestnet and all loan funding and
administration is undertaken by separate and unaffiliated financial
institutions.
About Advisor Credit Exchange, LLC
The Advisor Credit Exchange (ACx) is a technology-empowered
network that brings together lenders and wealth managers, enabling
investment firms and advisors to deliver financing solutions to
build their clients' net worth and meet their financial goals. By
integrating liability management with asset management and
protection solutions, ACx has created new opportunities for
advisors to help clients achieve financial wellness.
For more information on the Advisor Credit Exchange, please
visit www.advisorcreditexchange.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.
Media Relations
Dana Taormina
JConnelly for Envestnet
973.850.7305
envestnetpr@jconnelly.com
Rachel Weiss, VP Communications
Manager
The Bancorp, Inc.
302.385.5410
rweiss@thebancorp.com
Investor Relations
Andres Viroslav, Director of
Investor Relations
The Bancorp, Inc.
215.861.7990
aviroslav@thebancorp.com
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SOURCE Envestnet, Inc.