The #1 provider of FDIC-insured deposit sweep services, Promontory Interfinancial Network offers unique services that bring financial institutions and their customers together.
Incredible ReachExplore how the company is helping to leverage financial technologies to benefit bank customers, banks of all sizes, and our nation at large.
By the numbers >>
Big or SmallBy enabling banks to offer access to FDIC insurance in amounts greater than $250,000, Promontory Interfinancial Network's services help close the competitive gap between too-big-to-fail institutions and our nations small and mid-sized financial institutions.
The Promontory Interfinancial Network difference >>
Local BenefitUsing the company's services, banks can attract large deposits from local, safety-conscious customers, and they can use the full amount of those deposits to invest in their local economies.
How it works >>
By the numbersThe power of many working together: last year, the company helped its network of financial institutions to make more than 800,000 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.
The Promontory Interfinancial Network DIFFERENCEThe company's services level the playing field among money center and community banks.
How it worksPromontory Interfinancial Network's services help banks, including community banks, to attract more large deposits and use the full amount for local benefitSM.
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.
ProtectedOur 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.*
Socially ResponsibleWe 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 TogetherWe 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 >>
A safeguard for fundsPromontory Interfinancial Network's services help protect taxpayers dollars.
Responsible InvestingIn 2016, the company's 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).
See how one local bank is making a difference in its community.
The Power of ManyPromontory Interfinancial Network encourages financial institutions to work together to capitalize on efficiencies.
Promontory Interfinancial Network is the leading provider of FDIC-insured deposit placement services. It offers Insured Cash Sweep®, CDARS®, Promnet RepoSM, 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 us directly by calling (866) 776-6426.
*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.