A global pioneer in Fintech, Broadridge Financial Solutions, Inc. (NYSE: BR), has launched a Wealth Lending Network marketplace to connect wealth managers to banks and other financial services institutions. The marketplace will allow wealth managers of all sizes to use Broadridge’s end-to-end SBL technology platform to provide securities-based lending (SBL) services to their customers.
Mike Alexander, Broadridge’s President of Wealth Management, commented that the Wealth Lending Network is evolving with the market’s dynamic – bridging the supply-and-demand aspects on a trusted lending platform that creates value lenders, advisors, and their clients. He added that they concentrate on developing value-added services in a way that, regardless of their scale, makes business significantly more straightforward and more robust for our customers. According to Mike, by enabling market access, financing, infrastructure, credit risk management, and sales enablement, the marketplace opens up the SBL market to accelerate customer growth.
Demand for SBL credit continues to grow, proving attractive as a low-cost, low-risk credit offering to both borrowers seeking to access liquidity in their portfolios and lenders. SBL provides a high-quality revenue source with a low-risk profile and a low cost of capital for lenders.
The Broadridge Wealth Lending Network expands current lending models, allowing financial institutions to deliver SBL to customers on a turnkey basis, such as independent broker-dealers, financial advisors, and RIAs. Advisors can deepen relationships with consumers, protect existing AUM and attract new assets by providing versatile credit offerings. Historically, a slow and manual process is now digitized, offering a seamless and frictionless customer experience.
Jeff Hazelwood, Institutional Banking Solutions Managing Director, The Bancorp, expressed his excitement to join the Wealth Lending Network of Broadridge as its initial funding partner. He will be tapping into this new platform based on the market access of Broadridge and established end-to-end SBL technology. The presence in the Wealth Lending Network of Broadridge builds on the on-going strategic investment of The Bancorp in our SBL market leadership.
A $4.5 billion global leader in Fintech, Broadridge Financial Solutions, Inc. (NYSE: BR) is a leading provider of investor relations and technology-driven solutions to banks, broker-dealers, asset and investment managers, and corporate issuers. The infrastructure of Broadridge supports proxy voting services for more than 50 percent of global public corporations and mutual funds and processes on average more than $10 trillion a day in fixed income and equity securities trades. Broadridge is listed in the S&P 500® Index and has over 12,000 staff in 17 countries.
For more information, visit: https://www.broadridge.com
About The Bancorp
Bancorp, Inc. (NASDAQ: TBBK) is committed to meeting the diverse needs of non-bank financial services businesses, from start-ups to Fortune 500 companies. The subsidiary of the group, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been consistently recognized as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank, and a top ACC sponsor bank in the payments industry.
For more information, visit: https://www.thebancorp.com