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ABA-Endorsed Solutions by Promontory Interfinancial Network

Chosen by thousands of banks nationwide, Promontory Interfinancial Network is the #1 provider of FDIC-insured deposit placement services and the inventor of reciprocal deposits. Promontory Network members use the company’s services — Insured Cash Sweep®, CDARS®, IND®, and Bank Assetpoint® — to manage their balance sheets more profitably. The company can help your bank to grow franchise value by cost-effectively building multi-million-dollar relationships, replacing higher-cost funding, managing liquidity, purchasing funding, and finding opportunities to buy and sell loan assets.

ICS®, the Insured Cash Sweep Service, and CDARS, the Certificate of Deposit Account Registry Service®

The ICS and CDARS services help banks attract and retain large-dollar, loyal customers; replace higher-cost funding; and reduce collateralization. Customers can access multi-million-dollar FDIC insurance for funds placed into demand deposit accounts or money market deposit accounts using ICS, or funds placed into CDs using CDARS. With ICS and CDARS, banks can sell deposits for fee income or keep funds on balance sheet with a reciprocal deposit option. Banks can also use ICS and CDARS to purchase cost-effective, fixed- or floating-rate funding without collateralization. More.

IND, the Insured Network Deposits® Service

IND provides cost-effective, floating-rate funding to banks and is available without collateralization. Banks can access amounts ranging from $25 million to billions of dollars for terms of up to five years or more. Pricing, which includes all settlement fees, is a set spread over the Federal Funds Effective Rate or other acceptable index. More.

Bank Assetpoint®

Bank Assetpoint is a nationwide marketplace for loans offering access to new loan opportunities via high-touch service from professionals possessing in-depth knowledge of banks. Bank Assetpoint’s team helps nearly 1,400 registered banks to connect with each other and with nonbank buyers and sellers. More.

For more information, contact:
Robin Gordon, Tel: (202) 663-5128, Email: rgordon@aba.com

 

 Multiple Ways to Learn More

 
​To learn more, register for one of Promontory Network's free webinars, visit www.promnetwork.com or contact the company at (866) 776-6426. For an ABA due diligence report on Bank Assetpoint, ICS, CDARS, or IND, email spolestak@aba.com.