Partnership provides IntraFi's 3,000 network
members access to Broadridge's best-in-class SBL technology
and participation in its Wealth Lending Network
NEW
YORK, Dec. 8, 2022 /PRNewswire/ -- Amid an
increased demand for wealth lending generally and securities-based
lending (SBL) specifically, global Fintech leader, Broadridge
Financial Solutions, Inc. (NYSE: BR) announced a partnership today
with IntraFi to offer a streamlined securities-based lending
service for banks, brokerage firms, and wealth management
firms.
Through this partnership, IntraFi will offer Broadridge's
lending technology — already used today by some of the largest
banks in the world — to its members to help support and grow their
securities-based lending businesses. IntraFi members will also be
able to offer loans to customers of independent brokerage firms,
financial advisors, and registered investment advisors (RIAs)
through the Broadridge Wealth Lending Network.
"Broadridge's partnership with IntraFi expands the availability
of securities-based lending to previously underserved parts of the
market — community and regional banks, independent broker-dealers,
and unaffiliated advisors and RIAs," said Mike Alexander, President of Wealth Management,
Broadridge. "This innovative joint solution for banks brings more
capital to bear in the securities-based lending business and
increases the potential to expand access to streamlined liquidity
options through the Broadridge Wealth Lending Network. We're
continuously focused on building value-added services that exceed
the needs of lenders, advisors, and their clients, and this
partnership is a prime example."
Broadridge's Wealth Lending Network connects wealth managers to
banks and other financial institutions, better enabling these
managers to provide SBL services to their clients. IntraFi, one of
the market's largest banking networks, was formed in 2002 to better
connect banks, brokerage firms, RIAs, and their customers.
"We're pleased that we can offer access to Broadridge's products
to thousands of banks and other financial institutions in our
network," said Mark Jacobsen,
Cofounder and CEO of IntraFi. "This partnership is a natural
extension of our flexible balance sheet management service."
Broadridge's SBL solutions are featured on the Broadridge Wealth
Platform, an open, component-based ecosystem that redefines wealth
management technology. With a flexible, scalable platform powered
by an aggregated data layer, it is designed to help firms drive
innovation, perform more effectively at scale and deliver a
digital, modernized client and advisor experience.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with more than $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 that drive
business transformation for 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. Our technology and operations platforms underpin the daily
trading of more than U.S. $9 trillion
of equities, fixed income and other securities globally. A
certified Great Place to Work®, Broadridge is part of
the S&P 500® Index, employing over 14,000 associates
in 21 countries.
For more information about us and what we can do for you, please
visit www.broadridge.com.
About IntraFi
Chosen by thousands of financial institutions, Fintechs, and
brokerage firms, IntraFi manages the nation's largest bank deposit
network. Its services help customers acquire high-value
relationships, fund more loans, seamlessly manage liquidity needs,
and earn fee income. As the inventor and the nation's #1 provider
of reciprocal deposits solutions and as a leading provider of
overnight and term-funding options, IntraFi delivers balance sheet
management and deposit allocation services to over 3,000 financial
institutions nationwide. IntraFi has repeatedly been recognized as
a best workplace by The Washington Post, the
Washington Business Journal, American Banker, and
Fortune.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg
Rosenberg
Corporate Communications
Gregg.Rosenberg@broadridge.com
IntraFi Contact:
Rob
Blackwell
Head of External Affairs
rblackwell@intrafi.com
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SOURCE Broadridge Financial Solutions, Inc.