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Alliances

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Independent Community Bankers of America

Promontory Interfinancial Network has formed a cooperative alliance with the Independent Community Bankers of America (ICBA) to help community banks better serve their most valued customers through Promontory Interfinancial Network's services, including CDARS®, the Certificate of Deposit Account Registry Service®; ICS®, the Insured Cash Sweep® service; and the Bank Assetpoint® service.

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The Bank of New York Mellon

BNY Mellon, provides issuance, custody, settlement, and recordkeeping services for Promontory Interfinancial Network.

BNY Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 40 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations, and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. As of March 2017, it had $30.6 trillion in assets under custody and administration, and $1.7 trillion in assets under management. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on bnymellon.com, or follow BNY Mellon on Twitter @BNYMellon. 

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Community Development Bankers Association

Promontory Interfinancial Network formed an alliance with the Community Development Bankers Association (CDBA) to enable socially motivated investors and banks seeking Community Reinvestment Credit to invest safely in America's underserved and most impoverished communities simply by making deposits through Community Development Banks. CDBA is the national trade association of the community development banking industry, and all members are certified by the U.S. Department of Treasury as Community Development Financial Institutions. 

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Farin & Associates

Promontory Interfinancial Network teamed with Farin & Associates to form a strategic education alliance to demonstrate how financial institutions can better manage their cost of funds by using ICS, the Insured Cash Sweep service, and CDARS, the Certificate of Deposit Account Registry Service. Farin & Associates specializes in developing retail strategies to improve the profitability of financial institutions and is nationally recognized as a provider of asset/liability management software.

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Placement of funds through the CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS settlement for a deposit or after CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS satisfies those restrictions. CDARS, ICS, and Insured Cash Sweep are a registered service mark of Promontory Interfinancial Network, LLC.

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