U.S.-based fintech Broadridge Financial Solutions (NYSE:BR) announced on Monday the launch of its new wealth lending network marketplace. According to Broadridge, the marketplace will connect wealth managers to banks and other financial institutions as well as enable wealth manager of all sizes to offer securities-based lending (SBL) services to their clients using Broadridge’s end-to-end SBL technology platform.
“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.”
The Bancorp, Inc. (NASDAQ: TBBK) is joining the marketplace as its inaugural funding partner through its subsidiary, The Bancorp Bank. While sharing more details about the marketplace, Mike Alexander, President of Wealth Management at Broadridge, stated:
“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.”
Jeff Hazelwood, Managing Director of Institutional Banking Solutions at The Bancorp, concluded:
“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 “Our participation in Broadridge’s Wealth Lending Network builds on The Bancorp’s ongoing strategic investment in our SBL market leadership.”
Broadridge claims to be a fintech leader with more than $9 billion in market capitalization, helping clients get “ahead” of today’s challenges to capitalize on what’s next with communications, technology, and data and analytics solutions that help transform their businesses.