News Details

WILMINGTON, Del.--(BUSINESS WIRE)--

The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide, is pleased to announce the expansion of its relationship with SEI. On February 13, 2008, SEI announced the launch of the SEI Cash Access Account, an integrated banking, lending and bill payment solution advisors can offer to their clients. The solution was designed to give investors added flexibility to meet cash flow needs by linking the banking services to investors' SEI investment account. The Cash Access Account is offered through Bancorp.

Among the services included in the program are unlimited checking and no-fee ATM access; direct deposit for paychecks, Social Security or pension benefits; electronic bill-paying service; extensive overdraft protection; and a securities-backed line of credit. A key benefit of the solution is that clients are kept fully invested, maintaining a minimal balance in the Cash Access Account while the majority of assets remain fully invested in their investment account.

"By incorporating everything into a single program, this solution makes it easier for advisors to give clients a clearer view of their finances and help them achieve their goals," said Kevin Barr, Senior Managing Director, Program Development, SEI Advisor Network. "Advisors have an opportunity to meet a growing demand from boomers -- the SEI Cash Access Account takes them one step further toward offering a full array of life and wealth services for their clients."

According to a study by the Financial Research Corp., approximately one-quarter of affluent boomer investors plan to consolidate their advisor relationships(1), indicating a continuing shift toward single-source wealth services. In addition to the single-source access clients seek, the solution gives clients flexible cash flow options without sacrificing return on their investment accounts.

The program also enables advisors to handle all of their clients' cash management needs with no additional administrative burden. The SEI Cash Access Account was designed to give investors easy access to account information and the ability to perform many transactions themselves. The program offers a Cash Access Team, a live 24-hour support team to field investors' calls directly. There is also a dedicated customer service hotline and websites for both investors and advisors.

"SEI's new cash management platform gives clients a seamless integration between their investment account and their bank account while eliminating the fees that most banks charge," said Kurt Creamer, CFA, The Centennial Group, Lansing, MI.

The SEI Cash Access Account is offered to all advisors at no cost, and for clients, nearly all services are provided free of traditional banking fees like those for checking, lending products, online bill pay, transfers and domestic and international ATMs.

(1) Financial Research Corp. ''Engaging PowerBoomers,'' January 2007

About the SEI Advisor Network

SEI Advisor Network provides independent advisors with outsourced wealth management platforms that are designed to meet the demands of a new generation of wealthy clients. In an evolving wealth management industry, the group offers an end-to-end process for successfully transforming their clients' businesses in every critical area, including marketing, practice management, investment strategy and client relationship platforms. The SEI Advisor Network is a strategic business unit of SEI. For more information, visit www.seic.com/advisors.

About SEI

SEI is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of December 31, 2007, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $426 billion in mutual fund and pooled assets and manages $197 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations from more than 20 offices in over a dozen countries. For more information, visit www.seic.com.

About The Bancorp Bank

The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc., is an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide. The Bancorp Bank is headquartered in Wilmington, DE.

Source: The Bancorp Bank