The inventor of reciprocal deposits, IntraFi is a trusted partner chosen by more than 3,000 financial institutions nationwide to help its network participants build stronger customer relationships, fund more loans, earn fee income, and seamlessly manage liquidity. IntraFi began with a simple premise: a network of banks could benefit all. That premise became our purpose and has helped drive us for more than 20 years. The IntraFi network (the largest of its kind) gives member banks access to tens of billions of dollars in funding, the highest per-depositor and per-bank capacity for deposits, and the peace of mind of being able to place large-dollar deposits.
IntraFi’s solutions include ICS, the IntraFi Cash Service; CDARS, the Certificate of Deposit Account Registry Service; IntraFi Sweep; IntraFi Yankee Sweep; and IntraFi Repo.
Together, IntraFi’s volume- and time-tested solutions empower banks to strengthen their customer relationships, manage liquidity, and purchase wholesale funding.
ICS & CDARS
Deposit placement: With ICS and CDARS, financial institutions can offer safety-conscious customers access to millions in aggregate FDIC insurance across network banks.
Note: A list of network banks can be found at https://www.intrafi.com/network-banks. IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply.
Deposits placed through ICS and CDARS are divided into amounts under the standard FDIC insurance maximum of $250,000 and placed at participating network banks in demand deposit accounts, money market deposit accounts, or both (with ICS) or in CDs (with CDARS). With ICS and CDARS, banks can provide peace of mind, flexibility, and favorable returns – while reducing their collateralization burden. Integration is available with all major service providers and provides time-saving automation and improved reporting capabilities.
Wholesale funding: Banks can also use ICS and CDARS to access fixed- or floating-rate funding, purchasing deposits from other network member banks.
IntraFi Sweep
With IntraFi Sweep, banks can acquire large blocks of long-term, floating-rate funding from diverse sources that are reportable as deposits, not borrowings. No collateralization or credit lines are required.
IntraFi Sweep is the leading deposit sweep service, which can help fund participating banks with deposits swept from customers of institutions, such as broker-dealers, in increments per customer that are less than the standard maximum deposit insurance amount.
ICBA Member Advantages
http://www.intrafi.com/