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City National Bank of Florida Adopts Total Bank Solutions Securities-Based Lending (SBL) Platform

November 16, 2021

Automated Platform Lets Florida’s 2nd Largest Bank Meet SBL Demand with Speed and Flexibility

NEW YORK, NY, November 16, 2021 – Total Bank Solutions (TBS), a FinTech firm accelerating the digital transformation of sweep programs, deposit funding, and securities-based lending technology, today announced that City National Bank of Florida (CNB) has adopted the TBS Loan Management System (LMS) to originate, monitor, and underwrite securities-based lines of credit for its wealth management clients.  By automating the end-to-end process on one convenient, cost-effective, and operationally efficient platform, CNB is delivering enhanced value to its clients while reducing its enterprise risk exposure and improving turnaround times from origination to loan booking.

“Adopting the TBS securities-based lending platform is an important component of our wealth management offering,” said Steven D. Hayworth, Executive Vice President, City National Private & Private Wealth Management Executive. “Securities-based lines of credit (SBLOC) are non-purpose loans that allow our clients to leverage the eligible securities in their investment account and access liquidity to meet a variety of funding needs. The TBS team was very responsive to our needs, and we are now meeting the pent-up demand to provide our wealth clients the benefits of securities-based lending with flexibility and speed.”

The TBS Loan Management System is an end-to-end securities-based lending platform that automates the origination, underwriting, and monitoring of securities-based lines of credit. The platform connects advisors and banks to offer clients competitively priced securities-based lines of credit, which have become a critical part of liquidity strategies for wealth managers.

“Not only does the TBS Loan Management System enable our wealth advisors to offer SBLOC cost efficiently at scale, it lowers the enterprise risk associated with collateral monitoring,” said Hayworth. “With manual loan monitoring it was not feasible to efficiently price collateral on a daily basis, elevating risk when lending against the value of a client’s portfolio. Now, we have the daily visibility to make risk-informed decisions. ”

Headquartered in Miami, City National Bank (CNB) is the financial institution to which Floridians have turned for 75 years. With more than $20 billion in assets, CNB is the second largest financial institution based in Florida. City National Bank is a subsidiary of Chilean bank, Banco de Credito e Inversiones (BCI) and remains a South Florida-based community bank with local decision-making. City National Bank is rated 5 stars “Superior” by BauerFinancial. CNB offers a diversified portfolio of financial products and services, including Private Banking, Wealth Management, and Trust services from Miami-Dade County to Central Florida.

“We are excited to partner with CNB to implement the TBS LMS and onboard their existing pipeline of SBL clients to the platform,” said Brian Tully, Managing Director of Securities-Based Lending at Total Bank Solutions. “Securities-based lending empowers wealth advisors like CNB to deliver enhanced value to their clients. With an end-to-end platform, they now have a competitive edge in the Florida wealth management market not only allowing them to compete against the major wirehouses but also to recruit top talent.”

About Total Bank Solutions (TBS)

Total Bank Solutions (TBS), a privately held technology firm located in Hackensack, NJ, was founded in 2004 to serve the needs of banks and financial intermediaries. The company’s offerings include the FDIC Insured Deposit Program (IDP) and Loan Management System (LMS). IDP is designed to provide clients with the benefit of extended FDIC insurance and provide participating banks with a stable, diversified, and cost-effective source of deposit funding. LMS is an end-to-end securities-based lending and collateral monitoring platform that connects banks with borrowers of affiliated wealth management divisions.