An ICBA Cooperative Alliance
Chosen by more than 3,000 financial institutions nationwide, Promontory Interfinancial Network is the leading provider of FDIC-insured deposit placement services. Banks of all sizes can use Promontory Interfinancial Network’s Insured Cash Sweep, or ICS; CDARS; IND; and Bank Assetpoint services to help manage their balance sheets more profitably. They can use Promontory Network services to build multi-million-dollar relationships, reduce collateral requirements, purchase funding, manage liquidity, and buy or sell loans.
Insured Cash Sweep, or ICS – Attract and retain large-dollar relationships with or without keeping the funds on balance sheet, replace higher-cost funding, and reduce collateralization. ICS offers access to multi-million-dollar FDIC insurance for funds placed into demand deposit accounts, money market deposit accounts, or both. And ICS offers cost-effective, floating-rate funding.
CDARS – Helps banks attract large-dollar relationships and replace higher-cost funding by enabling institutions to offer customers access to multi-million-dollar FDIC insurance on CDs. Banks can keep the full amount of CDARS deposits on balance sheet or sell the excess for fee income. Banks can also use CDARS to purchase cost-effective, fixed- or floating-rate funding.
IND – Flexible and cost-effective, IND makes large blocks of long-term, floating-rate funding available to Promontory Network members on an uncollateralized basis.
Bank Assetpoint – 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 its nearly 1,400 registered bank participants to connect with each other and with nonbank buyers and sellers.
ICBA Member Advantages
- Access to free, web-based seminars