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3930 East Jones Bridge Road
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25 Crossroads Drive, Suite 200
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Loire 200-202
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Baker's Hall 7 Harp Lane
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30 Cecil St. #22-02/08 Prudential Tower
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4 Rue d'Arlon
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7 Roundwood Ave
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600 Colonial Center Pkwy
Lake Mary
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Telephone

617-217-2816

Contact

Melanie Cousins
[email protected]
Back to all Fiserv announcements

Fiserv Automates Promontory Interfinancial Network's Balance Sheet Management

Promontory Interfinancial Network, LLC, with a network composed of 40 percent of the banks in the U.S., today announced the integration of Promontory’s Insured Cash Sweep, or ICS, and the Certificate of Deposit Account Registry Service®, or CDARS®, services with the Premier® bank platform from Fiserv. Fiserv, Inc. (NASDAQ:FISV) is a leading global provider of financial services technology solutions.

Banks can use ICS and CDARS to: attract and retain large-dollar depositors interested in access to multi-million-dollar FDIC insurance, reduce ongoing collateralization costs, and replace higher-cost funding. The integration of ICS and CDARS with the Premier bank platform automates many of the features and functionalities banks look for in a fully integrated, core processing solution. Specifically, the integration saves financial institutions time, simplifies the data and order entry processes, reduces the likelihood of error, and enhances reporting capabilities.

“The integration of Premier’s feature-rich functionality and flexibility with Promontory Interfinancial Network’s innovative services related to ICS and CDARS will provide the tools financial institutions are looking for in order to grow revenue and increase efficiencies,” said Dave Wegman, head of Premier solutions for Fiserv. “A third of the Promontory Network’s 3,000 member institutions currently use a Fiserv bank platform, making this announcement especially significant.”

Beginning today, the integrated solution for ICS is available to the thousands of financial institutions on the Premier bank platform. Integration for CDARS will be phased in over the coming months. In the future, integration with both Promontory services will also be phased in to other Fiserv banking platforms.

“The integration with Premier from Fiserv will make the ICS and CDARS services even easier and more efficient for bankers to use to attract and retain deposits,” said Steve Kinner, Promontory’s head of Sales. “It raises the quality of service that both Promontory and Fiserv can provide to banks to an even higher level.”