Infovisa has selected TBS as a preferred provider of an Insured Deposit Program tailored to meet the unique needs of trust companies, banks and their clients.
New York, New York – TBS Insured Deposit Program –July 25, 2017 – Today Infovisa® and Total Bank Solutions (TBS) announced that they have agreed to offer the TBS Insured Deposit Program as a cash sweep option to the Infovisa client base. The Insured Deposit Program provides trust clients with the benefit of extended FDIC insurance, daily liquidity and the opportunity for improved returns. By accepting deposits, banks that participate in the program gain access to a diversified source of stable funding.
Michael Dinges, President and Chief Executive Officer at Infovisa, said, “The TBS Insured Deposit Program is an excellent cash management solution for our clients. With recently implemented changes in money market funds, it has become increasingly important that our clients have options for cash management. We have partnered with TBS because its platform offers competitive returns, robust integration, and is compliant with banking regulations. We are looking forward to a successful relationship.”
“We are very excited to be able to offer clients on the MAUI platform a compelling cash sweep alternative for investors who require principal protection, same-day liquidity and operational convenience. We believe the combination of our proprietary sweep technology, risk analytics platform and strong program bank network represents an immediate and trusted solution to money market fund reform for Infovisa’s clients. Working with Infovisa, our goal is to provide their clients with a fully integrated and seamless insured deposit sweep option,” said Kevin Bannerton, Partner at TBS.
Infovisa and TBS are currently jointly working on integration for the partnership, and plan to bring their first mutual client live in August 2017.
Infovisa is an independent provider of data processing systems and related services for wealth managers, bank trust departments, independent trust companies, not‐for‐profit foundations, colleges,and universities. Since inception, Infovisa has enabled clients to grow efficiently, expand product offerings, and communicate results to customers using traditional and digital delivery methods. Infovisa has in excess of $130 billion in assets under control on its wealth and trust platform.
For more information, please contact Infovisa at (704) 892‐3270 or visit us on the web at www.infovisa.com.
ABOUT TOTAL BANK SOLUTIONS
Total Bank Solutions, is a privately held technology firm located in Hackensack, NJ, founded in 2004 to serve the needs of banks and other financial intermediaries. Leveraging proprietary technology, TBS’ FDIC Insured Deposit Program currently has more than $60 billion in assets under administration; is designed to provide TBS’ financial intermediary clients with the ability to offer their customers the benefit of extended FDIC insurance, and to provide participating banks with a stable, diversified and cost-effective source of deposit funding. By providing participants with access to innovative and customized products and services, TBS seeks to deliver solutions to help clients meet their unique funding and investment needs today and position their firms for future success.
TBS Bank Monitor offers clients the ability to conduct in-depth risk analysis and surveillance in order to analyze the “safety and soundness” of all FDIC-insured institutions. TBS provides access to its proprietary Bank Monitor system and process support through an online subscription service. For more information about TBS, visit http://www.totalbanksolutions.com.
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