Validation—What Others Say About Their Experiences
At Promontory Interfinancial Network, we pay meticulous attention to details and work hard every day to build trust. We believe that our company’s success is rooted in relationships, not transactions. Unlike many other fintech providers, we never compete with banks for their customers. But don’t take our word for it; read what our customers, industry trade organizations, and other peers have to say about their experiences.
In 2018, Promontory Interfinancial Network hired an independent, third-party research firm to survey bankers about their experiences with the company and its services. Respondents from 178 unique banks participated in the survey, closely representing the U.S. market’s distribution of banks by asset size.
- Among its many positive findings, the research firm indicated that all respondents were satisfied with the company’s Insured Cash Sweep® service and that 99% of respondents reported above-average satisfaction with ICS. The corresponding percentage for above-average satisfaction with CDARS® was 98% (with 100% reporting satisfaction overall).
- Additionally 80% of respondents identified ICS as “key” to their institution’s growth. The same was true for CDARS.
Prior to that—in 2017—Promontory Interfinancial Network engaged an independent research firm to survey a number of its bank and brokerage firm customers regarding their experience with the Insured Network Deposits® service. Per the final report:
- “Nearly universally, bank customers report[ed] that they perceive IND as the largest and most advanced FDIC deposit sweep provider with the largest and most desirable brokerages in its network. The key value they associate with this phenomenon is that IND is reliable and is likely to perform in good times and bad….”
- “…the IND broker-dealer customers we spoke with hold Promontory [Interfinancial Network] in high regard and recognize the company as the industry leader still because of the size of its bank network and, most importantly, because of the quality of company’s leadership and the high level of service customers receive from them.”
ENDORSEMENTS & ALLIANCES
DUE DILIGENCE REPORTS
Read what the American Bankers Association (ABA) has to say about Promontory Interfinancial Network’s product offerings. The ABA provides due diligence reports for Insured Cash Sweep, or the ICS service; CDARS; and IND—all of which carry the ABA’s exclusive endorsement and have been reviewed by ABA in detail. Request one or more reports.
See what the press has had to say about the company and its service offerings over the years.
Great Place To Work is published by Fortune.
Promontory Interfinancial Network Services
|With ICS, financial Institutions can provide access to multi-million-dollar FDIC insurance on funds placed into demand deposit accounts, money market deposit accounts, or both.|
|With CDARS, financial institutions can offer clients access to multi-million-dollar FDIC insurance on funds placed into CDs.|
|With IND, financial institutions can offer customers a multi-bank deposit sweep product that offers access to multi-million-dollar FDIC insurance.|
|Using Promnet Repo, financial institutions can offer clients a convenient way to enter into repurchase agreement transactions.|
|With Yankee Sweep, financial institutions can offer clients the ability to place funds with highly rated, non-U.S. banks.|
Watch this 1:57 video in which executives from the Bank of Clark County, City First Bank, Community Bank of the Chesapeake, and Eagle Bank share their Promontory Network member experiences or any of the following videos:
- Jim DiMisa, EVP & COO of Community Bank of the Chesapeake, discusses product diversification and the White Glove Treatment his bank receives (1:02)
- Charles Levingston, EVP & CFO of Eagle Bank and former bank examiner for the Federal Reserve, conveys his Promontory Network experiences with respect to due diligence processes and Regulatory Compliance (:56)
- John Milleson, President & CEO of Bank of Clarke County, talks about how Promontory Interfinancial Network services have helped his bank obtain Growth objectives (:54)
- Jim McCarty, CAO of Bank of Clarke County, shares his Network experiences with respect to growth and Collateral Reduction (:41)
- Brian Argrett, President & CEO of City First Bank of D.C., explains what he sees as one of the most powerful aspects of the Promontory Network relationship—the ability to attract more depositors who believe what his bank believes, uniting Deposit Growth & Social Investment (1:21)
Read about the company’s long-standing commitment to banks, the advantages it can offer, and its uniqueness compared to other service providers.
See company Headlines & Highlights.