August Preferred Provider of the Month

August Preferred Provider of the Month

Promontory Interfinancial Network

Promontory Interfinancial Network

Chosen by more than 3,000 financial institutions nationwide, Promontory InterFinancial Network is the leading provider of FDIC-insured deposit placement services. The company offers unique services that bring banks and other institutions together in a way that allows each to benefit from The Power of ManyS”’. Promontory Network members can use Insured Cash Sweep, or ICS; CDARS; Bank Assetpoint; Residential Mortgage Network; IND; Yankee Sweep; and Promnet Repo to:

  • Manage their balance sheets. Banks can seek opportunities to manage liquidity, buy or sell loans, reduce asset concentrations, grow deposits, lower interest rate risk, and diversify their wholesale funding sources.
  • Expand customer relationships. With Insured Cash Sweep, CDARS, Bank Assetpoint, Residential Mortgage Network, Yankee Sweep, and Promnet Repo, banks can attract and retain high-value customers and expand their cross-selling potential.
  • Reduce collateral requirements. With Insured Cash Sweep and CDARS, banks can free up funds previously invested in collateral for more profitable activities, increasing asset liquidity and reducing the burden of collateral management.
  • Find smarter funding sources. With Insured Cash Sweep, CDARS, and IND, banks can purchase funding without ongoing collateralization or stock purchase requirements. Additionally, banks can use Insured Cash Sweep and CDARS to replace higher-cost funding choices (e.g., repurchase agreements, letters of credit, and collateralized deposits) and to attract new deposits in million-dollar increments with or without keeping funds on balance sheet.
  • Supplement organic loan origination. Through Bank Assetpoint and Residential Mortgage Network, banks can purchase loans—on a one-off or a flow basis—in geographic areas and/or industries that match their target areas of expansion or existing expertise.

Contact Information:
Ryan Geib
Regional Director
rgeib@promnetwork.com

208 Hillcrest Road, Wayne, PA 19087
Phone: 703.292.3441
www.promnetwork.com