The Bancorp Bank Joins Envestnet Credit Exchange, Offering Access to Automated Securities-Backed Loan Origination

Lending Platform Powered by the Advisor Credit Exchange Continues to Grow, Giving Advisors a Wider Selection of Opportunities to Help Clients Achieve Financial Wellness

CHICAGO, Aug, 2020 -- Envestnet, Inc. (NYSE: ENV) announces that The Bancorp Bank, a wholly-owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), has joined the roster of lenders on the Envestnet Credit Exchange, providing financial advisors with seamless access to securities-backed lines of credit.  

“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. For more information, visit https://www.thebancorp.com/Talea.

“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.”  

The Envestnet Credit Exchange, powered by the Advisor Credit Exchange (ACx) and launched last year, is available through the Envestnet platform’s sponsor and advisor portals. The Credit Exchange generates a data-driven selection of pre-qualified loan opportunities for clients, alongside comprehensive pricing details and terms for each potential loan. 

The Envestnet Advisor Summit On-Demand (https://www.envestnet.com/advisorsummit) features video content demonstrating and discussing the Envestnet Credit Exchange in more detail. 

“Advisors can communicate with clients about relevant lending opportunities with confidence, and demonstrate greater value for clients, when they harness actionable intelligence from the Envestnet Credit Exchange,” said Peter Stanton, CEO of the Advisor Credit Exchange. “Expanding our lineup of respected lenders makes it possible for advisors to help manage credit for clients as part of a unified advice offering, while mitigating risk and increasing transparency.” 

 

About Envestnet

Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across more than 4,900 companies including 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies, leverage the Envestnet platform to grow their businesses and client relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.

Envestnet, Inc. has a financial interest and occupies board of director positions in Advisor Credit Exchange (“ACE.”) ACE provides access to lending solutions for Advisors and their clients via the Envestnet Platform through EAM’s affiliate, Envestnet Financial Technologies.

This release should not be construed as a recommendation or endorsement of any particular product, service, or firm. No lending decisions are made by Envestnet and all loan funding and administration is undertaken by separate and unaffiliated financial institutions. 

About Advisor Credit Exchange, LLC

The Advisor Credit Exchange (ACx) is a technology-empowered network that brings together lenders and wealth managers, enabling investment firms and advisors to deliver financing solutions to build their clients’ net worth and meet their financial goals. By integrating liability management with asset management and protection solutions, ACx has created new opportunities for advisors to help clients achieve financial wellness.

For more information on the Advisor Credit Exchange, please visit www.advisorcreditexchange.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

 

Media Relations

Dana Taormina
JConnelly for Envestnet
973.850.7305
envestnetpr@jconnelly.com

Rachel Weiss, VP Communications Manager
The Bancorp, Inc.
302.385.5410
rweiss@thebancorp.com 

Investor Relations

Andres Viroslav, Director of Investor Relations
The Bancorp, Inc.
215.861.7990
aviroslav@thebancorp.com  
 

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