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Promontory Interfinancial Network: Insured Network Deposits Service (IND)

Promontory Interfinancial Network, LLC ("Promontory Network") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. By using Promontory Network's IND, Insured Cash Sweep®, CDARS®, and Bank Assetpoint® services, financial institutions can build profitable, million-dollar relationships; manage their balance sheets; purchase cost-effective funding; and sell or buy bank assets.

Market Profile
IND may be appropriate for any financial institution seeking to diversify funding sources or to acquire large, relatively stable funding blocks ($25 million to billions of dollars) for the long term.​​




IND®, the Insured Network Deposits®Service

About IND
IND is the industry’s leading deposit sweep service. IND funding comes from cash that is swept into banks from millions of brokerage accounts across the nation; therefore, the funding is both geographically diverse and relatively stable.

The 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.

Banks select a target balance amount and Promontory Network works in accordance with its agreement with the bank to allocate customer funds to achieve average daily balances consistent with the target balance amount. Pricing, which includes all settlement fees, is typically a set spread over the Federal Funds Effective Rate or one-month LIBOR. There are no hidden costs. Many banks compare this type of funding to issuing a multi-year, floating-rate CD.

Banks settle on a daily basis, but do not pay settlement fees; the total cost of funds is the rate agreed upon with Promontory Network. The movement of funds between broker-dealers and banks is settled through IND's settlement bank – The Bank of New York Mellon. Participating banks account for IND balances on an “omnibus” level. Individual client records are maintained and managed by the broker-dealer.

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Promontory Interfinancial Network is the leading provider of FDIC-insured deposit placement services. It offers ABA-endorsed Insured Cash Sweep®, CDARS®,  IND®, and Bank Assetpoint®. These services enable banks and other financial institutions to work together to build loyal, large-dollar relationships by offering access to multi-million-dollar FDIC insurance; to replace higher-cost funding and/or repurpose collateral; to manage liquidity; to buy and sell funding; and to connect with buyers and sellers of bank assets.​

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With IND, financial institutions can work with an industry leader to:
  • Diversify funding sources – Receive a large block of cost-effective deposit funding
  • Manage long-term liquidity – Access a stable source of funding
  • Avoid administrative hassles – Requires no set-up fees and minimal account management

IND, Insured Network Deposits, Insured Cash Sweep, CDARS, and Bank Assetpoint are registered service marks of Promontory Interfinancial Network, LLC.  ​​​




ABA Endorsed Solutions by Promontory Network




ABA Contact

Promontory Interfinancial Network Contact


 Due Diligence Report


Due diligence reports  are currently available on select solutions and for bank members only.
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 Learn About Endorsed Solutions


In a rapidly changing landscape, banks turn to the proven expertise of ABA Endorsed Solutions for the most advanced technologies and products to grow their business, cut costs, and transform the customer experience.

Questions? Please contact Robin Gordon for more information.