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.”
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.