THE POWER OF MANY

Promontory offers unique services that bring financial institutions and their customers together in a way that allows each to benefit from "the power of many."

Incredible Reach

Explore how Promontory Interfinancial Network is helping to leverage financial technologies to benefit bank customers, banks of all sizes, and our nation at large.
By the numbers >>

Big or Small

By enabling banks to offer access to FDIC insurance in amounts greater than $250,000, Promontory's services help close the competitive gap between too-big-to-fail institutions and our nations small and mid-sized financial institutions.
The Promontory difference >>

Local Benefit

Finding new solutions for big challenges means bringing together people with a range of expertise, from network engineers to bankers, Promontory's collaborative culture encourages cooperation within and across teams to surface new ideas.
How it works >>

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By the numbers

The power of many working together: last year, Promontory helped its network of financial institutions to make more than 650,000 bank-to-bank connections*—completing transactions that otherwise might not have taken place.
*A bank-to-bank connection is the placement of funds from one bank to, or the receipt of funds by one bank from, another bank.

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The Promontory DIFFERENCE

Promontory services level the playing field among money centers and community banks.
Promontory Difference Chart
Promontory Network Chart

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How it works

Promontory services help banks, including community banks, to attract more large deposits and use the full amount for local benefit. *

HELPING FINANCIAL INSTITUTIONS AND THEIR CUSTOMERS BANK IN AMERICA

Promontory Interfinancial Network offers financial technology services that have a number of public policy and other benefits, including promoting financial empowerment at a local level and financial stability at local, state, and nationals levels.

Protected

Our services help government finance officers, including city and county Treasurers, school districts, and other public entitites, both to protect taxpayer money-funds that ultimately finance infrastructure improvements, education, municipal services, and other important activites—and to keep their deposits local, using them in the community.*
Safeguarding funds>>

Socially Responsible

We encourage socially responsible investors, including banks looking for Community Reinvestment Act credit, to deposit funds in banks that serve economically disadvantaged communities where much-needed funds can be used for local lending initiatives that otherwise might not take place.
Responsible investing >>

Working Together

We bring thousands of banks and other financial institutions together through a network that helps each to benefit from "the power of many" working together, enabling participants to offer services that otherwise might be too difficult or too costly to offer on their own.
The Power of Many >>
Safeguard Graphic

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A safeguard for funds

Promontory services help protect taxpayers dollars.

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Responsible Investing

In 2015, Promontory services helped mission-based banks—Community Development Financial Institutions and minority-owned banks—to attract more than $2 billion in socially responsible investments (deposits).
More than two-thirds of the nation's mission-oriented banks are long-time Promontory Network members (on average for more than nine years each).
Responsible Investing
Bank Connections

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The Power of Many

Promontory encourages financial institutions to work together to capitalize on efficiencies.

ABOUT US

Promontory is the leading provider of FDIC-insured deposit placement services. It offers Insured Cash Sweep®, CDARS®, IND®, Yankee Sweep®, Bank Assetpoint®, and Residential Mortgage Network℠. 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.

To learn more, please contact Promontory directly by calling (866) 776-6426.

Banker Inquiries:

Steve Kinner (x3445)
Senior Managing Director of Sales
skinner@promnetwork.com

Media Inquiries:

Phil Battey (x3357)
Senior Vice President of External Affairs
pbattey@promnetwork.com

Alliance Opportunities:

Will Davis (x3444)
Managing Director of Corporate Development
wdavis@promnetwork.com

*When funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS or ICS Network, a Network member can use the full amount of a deposit placed through CDARS or ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent to certain types of CDARS transactions, the member institution may choose to receive fee income instead of deposits from other members. Under these circumstances, deposited funds would not be available for local lending.