FOUNDED BY MARK JACOBSEN, EUGENE LUDWIG, ALAN BLINDER, AND
ALFRED MOSES, PROMONTORY INTERFINANCIAL NETWORK, LLC
CELEBRATES TEN-YEAR ANNIVERSARY
ARLINGTON, VA – (October 16, 2012) – Founded by Mark Jacobsen, Eugene Ludwig, Alan Blinder, and Alfred Moses, Promontory Interfinancial Network, LLC is celebrating its tenth anniversary of providing financial institutions with cutting-edge, profit-enhancing solutions.
Envisioned as a network comprised of thousands of financial institutions, whose "synthetic size" would help each member institution to compete more efficiently, today the Promontory Network includes approximately 3,000 members nationwide. These members use Promontory's services – CDARS®, ICSSM, IND®, and Yankee SweepSM – to acquire and retain large-dollar customer relationships, manage liquidity, reduce collateralization costs, and purchase funding. In addition, Promontory offers the Prepaid Assessment MarketplaceSM – a free service that helps match prospective buyers and sellers of prepaid FDIC assessments.
Mark Jacobsen, Promontory’s President and CEO, stated: “When we first made available our groundbreaking CDARS service 10 years ago, we started with just a handful of banks. Today more than 1 out of every 3 banks is a member of the Promontory Network, and our member banks offer one or more of our services in all 50 states, the District of Columbia, and Puerto Rico.”
“Even as we continue to grow, Promontory’s commitment to our Network members and the communities they serve will remain our highest priority,” Mark Jacobsen added. For more information, contact: Phil Battey, Senior Vice President, External Affairs, Promontory Interfinancial Network, LLC; (703) 292-3357.
About Promontory Interfinancial Network: Based in Arlington, VA, Promontory Interfinancial Network was founded in 2002 to provide financial institutions with profit-enhancing services through a network whose “synthetic size” would help each member institution to compete more effectively. To learn more about Promontory and its services, visit www.promnetwork.com