Promontory Interfinancial Network was founded in 2002. Over the past decade, the company has built strong relationships with thousands of financial institutions across the nation. Today, it offers unique services that bring Network members and other key constituents together in a way that helps each to benefit from "the power of many" – enabling them to offer services that otherwise might be too difficult or too costly to offer on their own.
Promontory is the leading provider of FDIC-insured deposit placement services. It offers ICS®, CDARS®, Bank Assetpoint®, Residential Mortgage Network, IND®, and Yankee Sweep® services that enable banks and other financial institutions to
- build loyal, large-dollar relationships by offering access to multi-million-dollar FDIC insurance;
- replace higher-cost funding and/or repurpose collateral
- manage liquidity; and
- connect with buyers and sellers of bank assets.
Many Promontory services have received exclusive endorsement from the American Bankers Association through its Corporation for American Banking subsidiary, and some enjoy additional endorsements from, and cooperative alliances with, other key trade organizations across the country.