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    Insured Network Deposits

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    The Insured Network Deposits® service, or IND®, is the #1 FDIC-insured deposit sweep service. It enables brokerage firms to provide a superior sweep alternative for their customers’ cash balances. For banks, it provides an attractive purchase funding option. IND is endorsed by the American Bankers Association.

    An FDIC-Insured, Multi-Bank Sweep Service for Brokerage Firms

    With IND, brokerage firms can offer customers access to multi-million-dollar FDIC insurance on cash balances. IND can help brokerage firms to significantly increase profit margins over those earned on short-term investment accounts (like money market mutual funds) and to deliver a differentiated sweep product to their customers. In addition, brokerage firms can use IND balances to fund affiliate banks, if desired/applicable. Learn more about IND for brokerage firms.

    A Source of Cost-Effective, Floating-Rate Funding for Banks

    Banks can use IND to access large blocks of floating-rate funding at terms ranging from 1 to 5+ years and in amounts generally ranging from $25 million to multiple billions of dollars. Funding is available without collateralization, so banks can use the entire amount of purchased funds for revenue-generating opportunities. Learn more about IND for banks.

    An Opportunity for Fintechs to Partner with Banks to Grow Revenue

    Fintechs can use IND to offer an attractive cash management option. With IND, Promontory Interfinancial Network can help fintechs place customer funds in insured deposit sweep accounts through a seamless integration with one or more participants in its bank network—a network that is ~3,000 strong and the largest of its kind. Learn more about how IND offers fintechs an opportunity to partner with banks to grow revenue.