Envestnet, announces that The Bancorp Bank, a wholly- owned subsidiary of The Bancorp, has joined the roster of lenders on the Envestnet Credit Exchange, providing financial advisors with seamless access to securities-backed lines of credit.
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“We continue to add select, highly qualified lenders to the Envestnet Credit Exchange to enrich the suite of credit solutions that enable advisors to help clients manage both sides of the balance sheet,” said John Yackel, Head of Strategic Initiatives at Envestnet. “The Bancorp’s securities-backed lending product provides advisors and their clients with broader options for making financial wellness a reality for more clients.”
Registered Investment Advisers (RIAs) and enterprises have access to The Bancorp’s securities-backed loan product through the Envestnet Credit Exchange, including pre-qualified loan opportunities to present to their clients. The Bancorp then simplifies and expedites loan approval through its Talea™ platform, which automates the approval process, streamlines application paperwork, and saves time on approval and funding.
“Talea enables speed and simplicity in loan origination for our Securities-Backed Line of Credit (SBLOC) product, giving advisors and enterprises the confidence to share trusted client relationships with The Bancorp,” said John Leto, Executive Vice President and Head of Institutional Banking at The Bancorp. “We are glad to work with Envestnet and the Envestnet Credit Exchange to offer the benefits of Talea to more advisors and investors across the country.”
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