07 February 2024

Setpoint establishes relationship with Wells Fargo

Written By FinTech Alliance

Setpoint establishes relationship with Wells Fargo

Setpoint, a leading financial services provider, is pleased to establish a banking relationship with Wells Fargo.

In brief:

- Setpoint will assume the crucial roles of Paying Agent and Calculation Agent for various clients, such as auto and real estate originators and lenders.

- Setpoint’s tech-enabled service execution for asset-backed lending deals increases funding efficiency while reducing transaction risk.

- In its role as Third-Party Paying Agent, Setpoint facilitates client payments via its technology platform by issuing payment instructions, as authorised by Setpoint’s clients, to banks where funds are held or are to be transferred.

What does mean?

“We have been incredibly impressed by the Wells Fargo team’s tech-forward vision and approach,” said Ben Rubenstein, Setpoint co-founder and president. “Accuracy, security, speed, and operational efficiency are shared principles, and we are excited to come together to use technology to save time and money for our shared clients.”

Read more here.

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