ICS for Banks
One Service, Multiple Benefits
Watch a brief overview video
To support their efforts to grow franchise value and increase profitability, banks use ICS®, the Insured Cash Sweep® service, to
- Attract and retain loyal, large-dollar relationships with or without keeping the full deposit amount on balance sheet
- Reduce ongoing collateralization and related tracking burdens
- Improve asset liquidity
- Lower the risk of collateral-value deterioration
- Purchase funding at floating rates without collateralization requirements
ICS is a Flexible Balance Sheet Management Tool for Banks
Regardless of a bank’s liquidity position, ICS can help. Discover the balance sheet flexibility each ICS option affords.
ICS Reciprocal—Attract high-value relationships and keep deposit funding on balance sheet (a new law provides that most reciprocal deposits are nonbrokered, making reciprocal deposits an even more desirable funding option).
ICS® One-Way Sell®—Attract high-value relationships and sell deposits (just the funds, not the customer relationship) for fee income.
ICS® One-Way Buy®—Cost-effectively purchase funding (excess deposits from other banks) with no collateralization requirements.
Integration is available through all major core processors
High Marks for Insured Cash Sweep
In a recent survey of Promontory Network members conducted with help from a third-party provider, more than 80% of respondents identified ICS as “key” to their growth. What’s more, 100% of respondents said they were satisfied with their ICS experience (with 99% reporting above-average satisfaction).
In addition, ICS is endorsed by the American Bankers Association and enjoys strategic marketing alliances with key trade associations across the country.
And, bankers and depositors report positive experiences with ICS.
Use of the ICS service is subject to the terms, conditions, and disclosures set forth in the CDARS-ICS Participating Agreement and the applicable Deposit Placement Agreement. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS savings option. ICS, Insured Cash Sweep, One-Way Sell, and One-Way Buy are registered service marks of Promontory Interfinancial Network, LLC.