Broadridge Financial Solutions partners with IntraFi to expand its securities lending

Global fintech leader, Broadridge Financial Solutions, announced a new partnership with a privately held firm and US banking network, IntraFi. The company announced the team-up yesterday, December 8th, stating that the partnership came due to an increase in demand for wealth lending generally and securities-based lending specifically.

Thanks to the partnership, Broadridge will be able to offer streamlined securities-based lending for institutional investors, including brokerage firms, banks, as well as wealth management companies.

Broadridge’s statement explained that IntraFi would offer Broadridge’s lending technology to its members in order to help grow and support their lending business. The technology is already being used by some of the world’s largest banks, but now, Broadridge aims to expand it and offer it to new institutions that did not have a chance to try it until now.

In doing so, the company hopes to expand the reach of its services to new parts of the market which were previously underserved. Those who adopt it will be able to offer loans to customers of independent brokerage companies, but also registered investment advisors and financial advisors.

Expansion of Broadridge’s services to open up new opportunities

Broadridge’s President of Wealth Management, Mike Alexander, commented on the move by saying that it will expand the availability of the company’s securities-based lending capabilities, listing all of the mentioned users that the company is targeting.

He added that this is an innovative solution for banks that will bring more capital to bear in the securities-based lending business. Furthermore, it will increase the possibility of expanding access to streamlined liquidity options throughout the company’s network. This will also allow the company to make another important step towards achieving its long-term goal, which is to connect wealth managers with banks and other financial institutions. Doing this will better enable wealth managers and in turn, allow them to provide better SBL services to their own clients.

As for IntraFi, it is one of the largest banking networks on the market. It has been around since 2002, seeking to connect banks, RIAs, brokerage firms, and more with their customers. IntraFi’s CEO and co-founder, Mark Jacobsen, also commented on the partnership, stating that the company is pleased to partner with Broadridge and that it will be able to offer its product to thousands of financial institutions that are connected to IntraFi’s network.

He added that the partnership is a natural extension of IntraFi’s flexible balance sheet management services.

Earlier this week, Broadridge also saw a significant stock drop, but despite this, it still managed to outperform the majority of the market. At the time, shares shed around 1.14%, leaving the figure at $142.33. But, as mentioned, the stock still outperformed a number of major competitors, including Fidelity National Information Services and Affirm Holdings.