NEW YORK, Feb. 22, 2021 /PRNewswire/
-- 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 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 Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@Broadridge.com
Andres Viroslav
Director of Investor Relations
+1 215-861-7990
aviroslav@thebancorp.com
Media:
Tina Wadhwa
Corporate Communications, Broadridge
+1 212-973-6164
Tina.wadhwa@broadridge.com
Rachel Weiss
VP, Communications Manager, The Bancorp
+1 302-385-5410
rweiss@thebancorp.com
Kathleen Hayn
AVP, Communications Specialist, The Bancorp
(484) 888-4445
kahayn@thebancorp.com
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SOURCE Broadridge Financial Solutions, Inc.