We've combined to expand our suite of innovative products and services in order to help banks, credit unions, wealth managers and trust institutions meet their unique cash sweep, deposit funding and securities-based lending needs.
R&T and TBS hold the same fundamental values and are committed to our clients, communities, employees, and other stakeholders. By combining the complementary capabilities of our two firms, we are better positioned to serve a wider range of our client’s needs. We will be able to offer banks and credit unions more ways to improve their balance sheet efficiency and streamline their securities-based lending underwriting and collateral monitoring capabilities. Wealth management firms will benefit from an expanded network of participating banks, access to higher FDIC insurance levels, automated securities-based lending origination and investments in technology to support system enhancements and new product offerings. All of our clients will benefit from the collective experience, insights, and market expertise of our combined team.
Reich & Tang Deposit Networks, LLC and its affiliates (R&T), located in New York, NY, provide deposit, liquidity and cash management solutions for banks, credit unions, broker-dealers, wealth managers, trust companies and other financial institutions throughout the U.S. Through its Demand Deposit Marketplace® program, R&T offers a reciprocal deposit program to banks, credit unions and other financial institutions that provides underlying customers with the ability to obtain an expanded level of Federal Deposit Insurance Corporation (FDIC) and/or National Credit Union Share Insurance Fund (NCUSIF) insurance on deposits placed through the program. R&T also is the trusted service provider to large broker-dealers and other financial institutions that offer insured cash sweep programs to their customers. R&T is focused on delivering unmatched client service by creating, improving, and delivering smarter solutions to help banks, wealth managers and other financial institutions maximize the value of their deposit, liquidity, and short-term investment programs.
Total Financial Solutions, LLC (d/b/a Total Bank Solutions) (TBS) is a financial technology firm located in Hackensack, NJ. The company was founded in 2004 to serve the needs of banks and wealth management organizations. Its offerings include its Insured Deposit Program (IDP) and Loan Management System (LMS). With over $100 Billion in assets under administration, IDP provides wealth managers and their customers the benefit of extended FDIC insurance on their deposits and, for participating banks, access to a stable, diversified, and cost-effective source of deposit funding. LMS is an end-to-end securities-based lending and collateral monitoring platform that connects banks with borrowers seeking collateralized loans.