Promontory Network Services for Cash Managers
Trusts and Other Cash Managers Choose Promontory Network Services
Promontory Interfinancial Network’s services — Insured Cash Sweep®, CDARS®, Promnet Repo®, Insured Network Deposits®, and Yankee Sweep® — appeal to cash managers’ clients with a wide array of valuable benefits. Trust companies, bank trust departments, wealth management offices, cash management portal providers, and other institutional cash managers use these services to
- Attract and retain valuable clients by offering a wider variety of cash management solutions that help balance returns, safety, and liquidity
- Eliminate ongoing collateral-pledging requirements
- Provide customers with an alternative to money market mutual funds, particularly prime funds, which may no longer meet compliance requirements due to floating net asset value (NAV) rules and the possibility of money market mutual fund liquidity gates and fees
- Earn fee income, if applicable
Unlike other cash management service providers, Promontory Network never has possession of client funds. It does not compete with cash managers for customer relationships. And, Promontory Network undergoes diligent vendor-management reviews by thousands of financial institutions of various sizes. The company’s Insured Cash Sweep, CDARS, and Insured Network Deposits services are endorsed by the American Bankers Association.
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Numerous Benefits for Cash Managers' Clients