Broadridge Taps IntraFi to Expand Reach of Securities-Based Lending

Time Stamp: December 8, 2022 12:36 PM
Source Node: 1768827

Broadridge Financial
Solutions, a US-headquartered fintech company, has announced its partnership
with IntraFi, a privately held firm and US banking network, to extend the reach
of its securities-based lending “to previously underserved parts of the
market.” These include stakeholders such as community and regional banks,
independent broker-dealers, and unaffiliated and registered independent advisors.

Under the new
partnership, IntraFi is expected to offer Broadridge’s lending technology —
already in use by top global banks — to its members to help support and grow
their securities-based lending businesses.

“IntraFi members will
also be able to offer loans to customers of independent brokerage firms,
financial advisors, and registered investment advisors (RIAs) through the
Broadridge Wealth Lending Network,” Broadridge said in a statement released on
Thursday.

Check out the Finance Magnates London Summit 2022 session about talent back office technology for fintech businesses.

Mike Alexander,
President of Wealth Management at Broadridge, noted that the partnership will
help to attract more capital to its securities-based lending business and also increase the potential to
double down on streamlined liquidity options.

“We’re continuously
focused on building value-added services that exceed the needs of lenders,
advisors, and their clients, and this partnership is a prime example,”
Alexander said.

Also speaking, Mark
Jacobsen, Co-Founder and CEO of IntraFi described the partnership as “a natural
extension of our flexible balance sheet management service.” “We’re
pleased that we can offer access to Broadridge’s products to thousands of banks
and other financial institutions in our network,” Jacobsen added.

Partnerships

Meanwhile, Broadridge
has also entered a number of collaborations with other financial industry
stakeholders in recent months. In mid-November, the Israeli-based eToro partnered
with Broadridge to enable proxy voting
for users who have invested in shares of companies traded on the platform.

“Thanks to our
partnership with Broadridge, eToro’s users can now have their say in corporate
decision-making at many of the biggest companies in the world,” eToro’s
Co-Founder and CEO, Yoni Assia, noted.

In September, Broadridge
also teamed
up with Coinbase to offer
interoperability between Coinbase Prime and its NYFIX order-routing network to
facilitate the growing cryptocurrency ecosystem.

Similarly, a month
earlier, Blue Ocean Technologies, a provider of after-hour trading
infrastructure, announced plans
to integrate Broadridge’s NYFIX order-routing network
into its solution in order to offer clients after-markets access to US
equities. Blue Ocean noted that it wants to better serve banks and
broker-dealers in North America and the Asia Pacific regions.

Broadridge Financial
Solutions, a US-headquartered fintech company, has announced its partnership
with IntraFi, a privately held firm and US banking network, to extend the reach
of its securities-based lending “to previously underserved parts of the
market.” These include stakeholders such as community and regional banks,
independent broker-dealers, and unaffiliated and registered independent advisors.

Under the new
partnership, IntraFi is expected to offer Broadridge’s lending technology —
already in use by top global banks — to its members to help support and grow
their securities-based lending businesses.

“IntraFi members will
also be able to offer loans to customers of independent brokerage firms,
financial advisors, and registered investment advisors (RIAs) through the
Broadridge Wealth Lending Network,” Broadridge said in a statement released on
Thursday.

Check out the Finance Magnates London Summit 2022 session about talent back office technology for fintech businesses.

Mike Alexander,
President of Wealth Management at Broadridge, noted that the partnership will
help to attract more capital to its securities-based lending business and also increase the potential to
double down on streamlined liquidity options.

“We’re continuously
focused on building value-added services that exceed the needs of lenders,
advisors, and their clients, and this partnership is a prime example,”
Alexander said.

Also speaking, Mark
Jacobsen, Co-Founder and CEO of IntraFi described the partnership as “a natural
extension of our flexible balance sheet management service.” “We’re
pleased that we can offer access to Broadridge’s products to thousands of banks
and other financial institutions in our network,” Jacobsen added.

Partnerships

Meanwhile, Broadridge
has also entered a number of collaborations with other financial industry
stakeholders in recent months. In mid-November, the Israeli-based eToro partnered
with Broadridge to enable proxy voting
for users who have invested in shares of companies traded on the platform.

“Thanks to our
partnership with Broadridge, eToro’s users can now have their say in corporate
decision-making at many of the biggest companies in the world,” eToro’s
Co-Founder and CEO, Yoni Assia, noted.

In September, Broadridge
also teamed
up with Coinbase to offer
interoperability between Coinbase Prime and its NYFIX order-routing network to
facilitate the growing cryptocurrency ecosystem.

Similarly, a month
earlier, Blue Ocean Technologies, a provider of after-hour trading
infrastructure, announced plans
to integrate Broadridge’s NYFIX order-routing network
into its solution in order to offer clients after-markets access to US
equities. Blue Ocean noted that it wants to better serve banks and
broker-dealers in North America and the Asia Pacific regions.

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