SAN FRANCISCO--(BUSINESS WIRE)--PENSCO Trust Company (“PENSCO”) announced today at LendIt Fintech USA, the world’s leading event in financial services innovation, the launch of Custodian Connect, an API-driven capability that seamlessly connects investment platforms to PENSCO enabling uninterrupted opening and funding of an IRA from within the platform. Custodian Connect enables a fully integrated end-to-end paperless process, eliminating duplication of data entry, and is the first of its kind to also provide digital consent and Automated Customer Account Transfer Service (ACATS) to expedite funding transfers.
PENSCO Trust Company, a subsidiary of Opus Bank (“Opus”) (NASDAQ: OPB), is a leading alternative asset custodian with $16 billion in assets under custody and nearly three decades of expertise in holding alternative assets in IRAs.
Patrick Hughes, President of PENSCO stated, “Custodian Connect builds on the success of our award-winning Alt-Nav technology and, combined with our reputation for institutional-quality relationship management, provides platforms with an experienced partner to reach into the $8.6 trillion IRA market.”
PENSCO invites all LendIt attendees to experience Custodian Connect at booth 1648.
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About PENSCO Trust Company
PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity, and other non-exchange traded assets since 1989. As the trusted custodian of over $16 billion in assets and over 50,000 client accounts, PENSCO works with financial institutions, capital raisers, and financial advisors, marketplace lenders, as well as self-directed investors who typically have a point of view about alternative investments based on their own knowledge or expertise and want to put their tax-advantaged retirement dollars to work in these opportunities. To learn more, please visit: www.pensco.com. PENSCO Trust Company performs the duties of an independent custodian of assets for self-directed individual and business retirement accounts and does not provide investment advice, sell investments or offer any tax or legal advice. Alternative investments are not FDIC insured and are subject to risk, including loss of principal.
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About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $5.2 billion of total loans, and $5.9 billion in total deposits as of December 31, 2017. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, and Merchant Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners, LLC, Member FINRA/SIPC. Opus Bank operates 50 banking offices, including 31 in California, 16 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com
About LendIt Fintech
LendIt Fintech is a recognized global internet finance industry leader, founded in New York in 2013. Its aim is to gather industry elites to discuss and explore latest trends in the development of international financial technology. LendIt Fintech has become the largest event in financial services innovation as it hosts three annual conferences, LendIt Fintech USA, LendIt Fintech Europe, and Lang Di Fintech, and dozens of complementary online and in-person industry events. LendIt also owns and operates one of the world’s leading industry educational channels, Lend Academy.
For more information, tickets and sponsorship opportunities, please visit www.lendit.com.