New platform cuts through the slow loan origination process; provides faster loan approvals and faster access to line of credit funding.
WILMINGTON, Del.–(BUSINESS WIRE)–The Bancorp Institutional Banking announces the launch of TALEA™ (ta-LAY-a), a new loan automation platform, that enables speed and simplicity in loan origination for the Securities-Backed Line of Credit (SBLOC) offering.
Developed and powered by The Bancorp, Talea automates the loan origination process and significantly reduces approval and funding time, with the potential for 24-hour underwriting and funding. Talea’s cutting-edge technology gives clients faster access to the borrowing power of their investment portfolio. Its superior responsiveness lets advisors and clients act quickly in response to changing financial circumstances and new opportunities.
For wealth managers, Talea helps leverage new opportunities for portfolio growth and revenue generation. Advisors can reach a broader client base with SBLOC solutions and enhance the advisor-client relationship with more holistic services.
Talea’s additional benefits include faster response time for drawing power simulations; improved risk management of customer portfolios; potentially greater drawing power using same advance rate policy; better data management; and more precise tools to track/respond to volatility.
“We are thrilled about the launch of Talea and the promise it has for our wealth management partners,” said John Leto, Executive Vice President, Head of Institutional Banking. “Talea is much more than just tech; it brings together experienced people, vastly improved business processes and smart technology to create the industry’s best advisor/end-client lending experience.”
CEO Damian Kozlowski said, “The Bancorp continues to make strategic investments in best-in-class business solutions and technology platforms like Talea, that have made us a leader in the wealth management industry. Launches such as this showcase the significant strides we are making across our enterprise. Future-looking, The Bancorp has additional innovative advances underway that will continue to fuel our positive momentum.”
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 thebancorp.com
Rachel Weiss, VP, Communications Manager
Andres Viroslav, Director of Investor Relations