Founded in 1979, IRA Services offers unmatched custodial, administrative, trustee services in the self-directed IRA (SDIRA) industry. SDIRAs are Individual Retirement Account, provided by some financial institutions in the United States, which allows alternative investments for retirement savings, such as real estate, private mortgages, private company stock and many more. The company claims to have over $6bn in assets under management and defines itself as an innovator of hi-tech SDIRA solutions. Chartered in 2008, IRA Services is regulated by the State of South Dakota Division of Banking.
The ISCP™ allows investors to fund their peer-to-peer and crowdfunding investments through their 401(k) and IRA accounts. According to IRA Services, since the inception of online lending industry, platforms had to rely on SDIRA paper-based processes and infrastructures. The lack of automation and integration prevented platforms’ ability to scale and investors’ benefits of tax-deferred P2P investing. With the advent of ISCP™ platforms can now offer retail customers a more effective way to purchase this kind of investments using 401(k) and IRA retirement accounts.
Crowdfinance SDIRA Expert, James A. Jones, referred to the ISCP™ as “an industry game-changer,” and commented:
“The ISCP™ completely disrupts the $100 billion SDIRA industry from a cumbersome time-consuming paper-based process to a state-of-the-art fully digital process. ISCP’s real-time transaction processing and bank-grade security enables tax-deferred micro alternative investing to scale to millions of investors with 401(k) and IRA accounts.”
The company revealed that LendIt attendees will have an opportunity to try the product at the event next week and it will also be possible to book private meetings and demonstrations.
We’ll continue to keep you posted on this product, as more details will become available.
