Financial Advisory Industry Disrupter Betterment Renews Contract with
Payments Leader, The Bancorp, Inc.
NEW YORK & WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. (NASDAQ: TBBK) and Betterment Holdings, Inc.
(Betterment) recently announced a contract renewal agreement. Betterment
is the largest independent online financial advisor helping people to
intelligently manage and grow their wealth through smarter technology.
The Bancorp Bank has served as the payment processing partner for
Betterment since 2013.
By combining proven investment strategies with technology that drives
down costs, Betterment aims to help customers make the most of their
money.
“We are thrilled to continue working with The Bancorp Bank and know that
they echo our mission of delivering a best in class experience for our
clients,” said Boris Khentov, VP of Operations at Betterment.
“The Bancorp remains committed to providing extraordinary client-focused
financial services, and we are very pleased to continue our partnership
with Betterment,” said Jeremy Kuiper, The Bancorp EVP, Head of Payment
Solutions. “We are dedicated to providing Betterment with the payments
platform that enables its cutting-edge, technology driven solutions.”
About Betterment
Betterment is the largest independent online financial advisor with more
than $13 billion in assets under management. The service is designed to
help increase customers’ long-term returns and lower taxes for
retirement planning, building wealth, and other financial goals.
Betterment takes advanced investment strategies and uses technology to
deliver them to more than 320,000 customers across its three business
lines: direct-to-consumer, Betterment for Advisors, and Betterment for
Business.
Determination of largest independent online financial advisor reflects
Betterment LLC’s distinction of having highest number of assets under
management, based on Betterment’s review of assets self-reported in the
SEC’s Form ADV, across Betterment’s survey of independent online
financial advisor investing services as of May 24, 2017. As used here,
“independent” means that an online financial advisor has no affiliation
with the financial products it recommends to its clients.
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
only 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 National Preferred
SBA 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 www.thebancorp.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180227006200/en/
Betterment Holdings, Inc.
Arielle Sobel, PR Manager
arielle@betterment.com
or
The
Bancorp, Inc.
Media Relations:
Rachel Weiss, 302-385-5410
rweiss@thebancorp.com
or
Investor
Relations:
Andres Viroslav, 215-861-7990
aviroslav@thebancorp.com
Source: The Bancorp, Inc.