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.
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.
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. 
