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ABA-Endorsed Solutions by Promontory Interfinancial Network

Promontory Interfinancial Network, LLC ("Promontory") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. 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.

Prom​​ontory's services, Insured Cash Sweep®, CDARS®, IND®, and BankAssetpoint® help financial institutions to build profitable, million-dollar relationships; manage their balance sheets; purchase cost-effective funding; and buy or sell bank assets. 

CDARS, or Certificate of Deposit Account Registry Service®
Promontory's flagship service, CDARS, enables Network members to offer their customers access to multi-million-dollar FDIC insurance coverage for CDs. Network members can keep the full amount of those customer deposits on balance sheet or sell the funding for fee income. In addition to using CDARS to attract large-dollar relationships and reduce collateralization costs, Promontory Network members can use the service to purchase wholesale funds. More.​ 

ICS, the Insured Cash Sweep® Service
With ICS, the Insured Cash Sweep service, Promontory Network members can attract and retain large-dollar customers, replace higher-cost funding, and reduce collateralization by offering a product that provides customers with access to multi-million-dollar FDIC insurance and interest on funds placed into demand deposit accounts, money market deposit accounts, or both.  More.  

IND, the Insured Network Deposits® Service
Promontory's IND service provides cost-effective, floating-rate funding to Network members and is available on an uncollateralized basis. Members can access amounts ranging from $25 million to multiple billions of dollars for terms of three to five years or more. Rates are based on a set spread over an established rate (e.g., the Federal Funds Effective Rate or One-Month LIBOR). IND funding comes from cash held in millions of brokerage sweep accounts across the nation and, as such, is considered relatively stable. More

Bank Assetpoint®
Bank Assetpoint provides access to new assets through its professional staff with in-depth knowledge of banks and an online marketplace where participants can post and view performing loan listings. To source loan opportunities, banks can use Bank Assetpoint’s state-of-the-art technology platform, as well as access high-touch customized service from regional professionals, to find public and private listings or be matched with banks that may have complementary interests.  More. ​​ 

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Questions? Please contact Robin Gordon for more information.

 

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