Since its introduction in 1996, the Bank Sweep Manager® solution has been used by over 500 financial institutions in almost every state to increase profitability by attracting new customers and retaining current relationships. It provides your financial institution with a safe and secure product that meets the needs of both your corporate and larger retail customers wanting both a fair return on their excess funds and a safe investment. Offering a Sweep Account program reduces the risk of profitable corporate and larger retail accounts moving their excess funds to larger regional financial institutions or brokerage firms.
Today, customers using Bank Sweep Manager® range from community financial institutions with $70 million in assets to regional institutions with assets of $22 billion. These financial institutions represent a diverse collection of institutions and charters, from nationally- and state-chartered institutions, to federal savings associations. All together, users of Bank Sweep Manager® are administering collective daily balances in excess of $4 billion dollars, each one managing their Sweep Account portfolio in a matter of minutes every day.
Please contact us to speak with one of our current client institutions and learn firsthand the benefits of the Bank Sweep Manager® solution.