PROMONTORY INTERFINANCIAL NETWORK’S
INSURED CASH SWEEP SERVICE INTEGRATED WITH FIS
ARLINGTON, VA – (December 7, 2011) – Promontory Interfinancial Network, LLC, which has a network of approximately 3000 banks, today announced that Promontory’s Insured Cash Sweep, or ICS, service is now fully integrated with many of the FIS deposit platforms through the FIS Cash Manager Module. FIS is the world’s largest global provider of banking and payments technology.
“The integration of ICS with FIS significantly enhances the services that Promontory and FIS provide. It is now easier for bankers to use ICS to provide their customers with access to multi-million-dollar FDIC insurance, to reduce ongoing collateralization costs, and to replace higher-cost funding,” said Steve Kinner, Promontory’s head of sales. “ICS integration with FIS will provide time savings, ease of entry, reduced likelihood of error through automation, and enhanced reporting capabilities.”
“Integrating the ICS service with the FIS Cash Manager system automates many of the features and functionalities banks look for in a core processing solution,” said Jeff Bloedorn, FIS’s Vice President for Business Development, Trust and Wealth Management Solutions. “We look forward to working with the large number of Promontory Network members currently using or planning to use the Cash Manager module.”
For more information, contact: Phil Battey; Vice President, External Affairs, Promontory Interfinancial Network, LLC; (703) 292-3357.
About Promontory Interfinancial Network:
Based in Arlington,VA, Promontory Interfinancial Network was founded in 2002 to provide financial institutions with services that help each member institution to compete more effectively. To learn more about Promontory and its services, visit: www.promnetwork.com.