The combined marketing effort allows Innovest Systems, a financial technology firm specializing in trust accounting and wealth management solutions, to offer Community Bank Funding Companyâs eCDâ¢ product to its client base. eCDâ¢ is an online marketplace for certificates of deposit (CDs), where institutional buyers and sellers conduct transactions on a fully automated system. The eCD marketplace allows investors to buy CDs of varying sizes and maturities, using a streamlined process while maintaining FDIC insurance. In addition to the systemâs unique and wide range of CD choices offered by hundreds of community banks nationwide, eCDâ¢ investors benefit from better rate execution along with reduced costs and administration.
Innovestâs flagship product, InnoTrust, a trust accounting and wealth management platform, allows its customers to significantly streamline their operations, further customer relationships, and reduce overall costs. Clients of Innovest will benefit from online access to Community Bank Funding Companyâs enormous range of CDs based on their chosen criteria. CDs are entered in book entry form for more cost effective tracking, reporting and accounting.
William Thomas, chief executive officer of Innovest Systems, said, âWe are pleased to collaborate with Community Bank Funding Company so that we can deliver additional value to our clients. This alliance demonstrates our commitment to leveraging technology to bring more choice and greater efficiency to our clients. Clients now have easy access to a national FDIC-insured CD inventory with better rates and less costs.â
Community Bank Funding Company managing director, Jeremy Colvin, comments, âThis is a beneficial alliance for all parties - we have valued CD inventory and an automated exchange portal, while Innovestâs clients are provided with a new technology-driven solution to benefit its trust and wealth management client base. Both of our companies share the same vision of creating customer efficiencies and profitability through innovation.â