Press Releases

Wells Fargo and Setpoint join forces to create more streamlined access to capital

[NEW YORK, NY, Feb 6, 2024] – Setpoint, a leading financial services provider, is pleased to establish a banking relationship with Wells Fargo which enables the cloud-based software company to expand its payment disbursement capabilities. Setpoint will assume the crucial roles of Paying Agent and Calculation Agent for various clients, such as auto and real estate originators and lenders.

“We are pleased to continue to support Setpoint’s impressive momentum and their critical position within the technology and fintech ecosystems. Setpoint has a highly-scalable and proven fintech solution built around leading-edge technology, and robust data security and controls,” said Matt Servatius, Wells Fargo Technology Banking central market executive. “We applaud Setpoint for their innovation to streamline warehouse funding to help borrowers gain faster access to the capital they need.”

Setpoint’s tech-enabled service execution for asset-backed lending deals increases funding efficiency while reducing transaction risk. In its role as Third-Party Calculation Agent, Setpoint approves and certifies borrowing requests, monthly payments and/or investor reporting. In its role as Third-Party Paying Agent, Setpoint facilitates client payments via its technology platform by issuing payment instructions, as authorized by Setpoint’s clients, to account banks where funds are held or are to be transferred. Setpoint does not take possession of, manage or control client funds.

“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 loan originators.”

About Setpoint

Setpoint is building the Operating System for asset backed lending. Founded in 2021, Setpoint’s capital and technology platform (Asset OS and Capital OS) enables auto, consumer, SMB, real estate and other asset-backed borrowers to grow profitably. Setpoint’s platform helps originators and lenders save time, money and do their best work. To learn more, please visit

About Wells Fargo Technology Banking

As part of Wells Fargo Commercial Banking, our specialized Technology Banking Group delivers a complete range of capital, advisory, risk management, and operating solutions tailored to scale through all stages of a company’s life cycle. The group supports a growing portfolio of clients in the fintech, software, hardware, internet and digital, and sustainable technology sectors across the U.S. The depth and breadth of industry knowledge and experience allows the specialized group to provide strategic and balanced guidance in addition to operational and capital support. To learn more, please visit Technology – Wells Fargo Commercial.

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