24 April 2017
April 24th, 2017: CHARLOTTE, N.C.
Rockall, a leader in collateral and credit risk management, has been chosen by The Bancorp, Inc (NASDAQ: TBBK), and its subsidiary bank, The Bancorp Bank to deliver its Securities-Backed Line of Credit (SBLOC) product FASTNET, Rockall’s SBLOC-in-the-cloud solution, will support The Bancorp’s internal control and risk management processes for its entire SBLOC product offering.
FASTNET enables the collateral evaluation, monitoring, and release management of securities-backed loans; ensuring the best possible risk management while facilitating growth. Its robust portfolio evaluation engine, fed with daily pricing, reference and ratings data, will enable automated monitoring and transparent communications across the bank. With this solution, The Bancorp is supported in seamlessly deploying FASTNET with limited up-front cost and minimal internal disruption.
Key FASTNET features include:
– Real-time evaluation of proposed liquid collateral
– Fully automated credit risk monitoring and communications
– Automated and rapid collateral release decisions
– Data analytics & reporting
– Regulatory compliance management
“We are excited to partner with The Bancorp in helping to streamline their securities-backed lending business. FASTNET’s ease to deploy and scalability will support the bank’s growth targets and more,” stated Rockall CEO Richard Bryce. “Rockall is delivering leading-edge technology to support SBL’s real-time operations and dynamic risk management requirements
FASTNET will enable The Bancorp to deliver marked improvements in support of their rapidly-growing SBL business. “We believe we will be able to improve the client experience with faster approval times and a smoother portfolio release process,” said Bill Cassidy, EVP, Institutional Banking, The Bancorp. “Our Securities-Backed Line of Credit is the largest component the Bank’s loan portfolio. We are excited by the power FASTNET gives us to scale our SBLOC business and enables us to grow quickly in a risk-managed way”.
FASTNET is a cloud-hosted solution, for all sized banks, with no existing book today or all the way up to multi-billion dollar books – with fast set-up and no need to alter existing banking systems.
The Bancorp, Inc. (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 financial institution subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), continues to be 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 leasing groups in the nation. For more information please visit www.thebancorp.com.