Broadridge Taps IntraFi to Expand Reach of Securities-Based Lending

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 as well as 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.

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Mike Alexander, the President of Wealth Management at Broadridge, noted that the partnership will help to attract more capital to its securities-based lending business and 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, the 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 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 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.