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Promontory Interfinancial Network, LLC

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Platinum Associate Member Member Since August 2003

promontory interfinancial network
promontory interfinancial network Promontory provides smart solutions that help banks to compete. Promontory leads the industry in FDIC-insured deposit placement services – unique services that derive their value from the power of many in a Network comprised of thousands of members across the nation.

Promontory’s services, CDARS, ICS, IND, and Yankee Sweep, enable banks and other financial institutions to:

• build strong, profitable, million-dollar relationships;
• manage their balance sheetsl;
• purchase cost-effective funding; and
• ultimately, improve their bottom lines.

Bank Assetpoint, now in beta launch, is a website that helps financial institutions make efficient connections and facilitates the sharing of information regarding the purchase and sale of bank assets.

Endorsed Solutions By This Associate Member

  • Promontory Interfinancial Network: Insured Network Deposits Service (IND)

    Accounting, Liquidity

    The Insured Network Deposits (IND) service enables financial institutions to access uncollateralized, floating-rate funding in amounts ranging from $25 million to multiple billions of dollars for terms of three to five years or more. The large majority of these deposits can be classified as money market deposit account (MMDA) deposits on a bank’s Call Report and, thus, are not subject to reserves.

  • Promontory Interfinancial Network: Insured Cash Sweep Service (ICS)

    Accounting, Liquidity

    Promonotory's Insured Cash Sweep service allows member banks to offer access to multi-million-dollar FDIC insurance. Customers can work directly with one bank to access insurance coverage from many—preserving the relationship and expanding the level of service a bank can provide.

  • Promontory Interfinancial Network: Certificate of Deposit Account Registry Service (CDARS)

    Liquidity, Fintech

    Banks in Promontory's CDARS network can offer each customer FDIC-insured deposits and either: keep the full amount on their balance sheet, or, with the depositor’s consent, sell the funding for fee income.

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