US-based Cion Digital has launched Advisor Lending Platform enabling the firm to cater to a wider range of financial services and retail sectors.
The company, through its new platform, seeks to support more asset classes including traditional assets, crypto assets and securities-based financial products.
The Advisor Lending Platform directly links wealth management firms and registered investment advisors (RIAs) to banks and other lending firms.
This in turn will help wealth advisors equip their clients with an integrated digital offering.
The platform will also address the issues concerning manually driven investment management processes.
Based on a borrower’s needs and lender’s credit requirements, the platform automatically generates high-value, low risk loans.
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By GlobalDataThe platform will also simplify loan application process from the existing advisor portal platform and ensure transparency regarding products, service levels, fee structures and loan rates.
Further, the platform will back multiple loan types with collateralised assets including digital assets, securities, bonds and real estate.
It will also allow wealth management firms and RIAs to offer customised services to their clients.
Cion Digital founder & CEO Snehal Fulzele said: “We’re excited to announce the expansion of our services to encompass a broader portion of the financial sector.
“Our lending platforms have been built with scalability and usability as our primary focus, and we are excited to be able to offer our products to a larger audience who can now take advantage of a wider range of loan and payment options when borrowing or transacting online.
“With this phase of our growth now complete, Cion Digital is well positioned to further help companies strengthen their customer relationships by curating and processing the right lending and payments products based on their individual needs.” Meanwhile, Cion has reached an agreement with Bancorp 34 subsidiary Bank 34 to integrate with the new Advisor Lending Platform.