VERSABANK EXPANDS RECEIVABLE PURCHASE PROGRAM WITH LAUNCH OF SECURITIZED FINANCING SOLUTION AND APPOINTS VETERAN US EXECUTIVE TIMOTHY COMISKEY TO LEAD INITIATIVE

VersaBank's RPP Securitized Financing offering uses the Bank's same proprietary Asset Management System (AMS) technology as its core RPP solution and benefits from the same unique model under which the Bank requires a cash holdback from its financing partners, which ensures the Bank receives its expected cash flows should the financing partner experience defaults from its end user borrowers. To support the growth of the new RPP securitization financing option in the United States, VersaBank has appointed ca ...