The IND^® service allows broker-dealers to offer a multi-bank, FDIC-insured deposit sweep product. By leveraging its proven technology and large bank network, Promontory can provide broker-dealers with a highly competitive alternative to money market mutual fund sweep accounts. It also enables participating banks to acquire longer-term, floating rate wholesale funding. 

IND for Broker-Dealers

• Replace existing money market mutual fund sweep accounts with IND and increase margins.
• Use IND in conjunction with existing deposit sweep programs to offer customers expanded access to FDIC insurance and/or help fund an affiliate bank.
• Leverage the extensive regulatory and compliance expertise of Promontory to implement your program successfully. Learn more...

IND for Banks

• Access a cost-effective, long-term stable source of wholesale funding.
• Obtain floating rate funding for amounts ranging from $25 million to multiple billions of dollars.
• Work with an industry leader known for its regulatory experience and emphasis on compliance. Learn more...