Since the inception of online lending, P2P platforms have had to rely on outdated Self-Directed IRA (“SDIRA”) paper-based processes and infrastructure. P2P platforms have grown increasingly frustrated in their inability to offer retail customers a simple and cost-effective way to purchase notes using 401(k) and IRA retirement accounts. This lack of automation and integration not only hinders a P2P platform’s ability to scale, it prevents retail investors from maximizing the benefits of tax-deferred P2P investing, such as stronger risk adjusted retirement returns.
With over $6 billion in assets, IRA Services Trust Company has a 37-year history of specializing in custodial trust solutions for non-exchange traded assets. Aiming to be the industry’s first hi-tech retirement investment solution which replaces antiquated legacy systems with a highly-secure web services interface between the trust custodian and the online finance platform, the company’s ISCP™ resolves these deficiencies allowing for a seamless, real-time, inexpensive, painless and easy to use investment experience. Crowdfinance SDIRA Expert James A. Jones referred to the ISCP™ as “an industry game-changer.”
“The ISCP™ completely disrupts the $100 billion SDIRA industry from a cumbersome time-consuming paper-based process to a state-of-the-art fully digital process,” explained Jones. “ISCP’s real-time transaction processing and bank-grade security enables tax-deferred micro alternative investing to scale to millions of investors with 401(k) and IRA accounts.”
Mark your calendars! LendIt attendees will have an opportunity to experience the functionality first hand by visiting booth number 806 at LendIt’s exhibit hall. The IRA Services team will also be available for private meetings and demonstrations. In addition to sponsoring and exhibiting, IRA Services Chief Strategy Officer Todd Yancey will be delivering a presentation on Tuesday, April 12th from 2 to 230pm PST that will highlight how the shortcomings in current SDIRA infrastructure has resulted in significant investment loss to online lending platforms, and how – through advanced cloud-based API technology – these platforms will now be able to access 12 times more capital by leveraging 401(k) and IRA accounts.
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