Promontory Interfinancial Network Changes Name to IntraFi Network
Innovative fintech is adopting new logos and names that better describe its suite of financial services
ARLINGTON, Va., Oct. 19, 2020 /PRNewswire/ -- Promontory Interfinancial Network is changing its name to IntraFi NetworkSM effective today.
As part of this rebranding effort, IntraFi Network is adopting new logos and names to better describe its suite of financial services — popular products that until now have included CDARS®, Insured Cash Sweep®, Insured Network Deposits®, and Insured Overnight Funding®. Going forward, the company's deposit products will be consolidated into IntraFiSM Network DepositsSM and its funding products will become IntraFi FundingSM.
"Our new name recognizes how our company has evolved over the past 18 years — from a small fintech providing a single service for less than 100 banks to a company offering an array of all-weather solutions to thousands of institutions," said Mark Jacobsen, CEO and Cofounder of IntraFi Network. "It's a new name, but still the same great people and customer service. Another thing that won't change is our commitment to always serve our network banks, never compete with them."
IntraFi Network has built the nation's largest deposit network, chosen by more than 3,000 financial institutions. The company was founded in 2002, invented reciprocal deposits, and is widely used by big and small banks alike—95% of banks in IntraFi's network are community banks, while 83% of banks with more than $1 billion of assets use its products and services.
The new name is shorter, easier to pronounce, and emphasizes the firm's most differentiating characteristic—the network and all that can be accomplished within it.
"IntraFi Network is designed to convey clearly and concisely who we are and what we do," said Jane Gladstone, President of IntraFi. "It's about streamlining the communication of our different offerings to our network members and their customers. If banks want funding, they don't have to navigate through five different names. It's the same for balance sheet and liquidity needs—we've got financial institutions covered."
Member banks are welcoming the name change.
"It signifies the approach that it has really been taking for many years and that is digging deep into the strategy of each and every financial institution that it works with and partnering with them at every level," said Luanne Cundiff, President and CEO of First State Bank of St. Charles in Saint Charles, Missouri.
The firm's headquarters will remain in Arlington, Virginia.
Those who want to learn more about the name change can do so at IntraFi's new website.
About IntraFi Network
Chosen by thousands of banks since its founding (as Promontory Interfinancial Network) nearly two decades ago, IntraFi Network has assembled the nation's largest bank deposit network. Its solutions connect financial institutions of all sizes to help each build stronger relationships with its customers, fund more loans, seamlessly manage liquidity needs, and earn fee income. As the nation's #1 provider of reciprocal deposits and a leading provider of overnight and term funding options, IntraFi Network has the scale to be a strategic partner for even the largest bank's funding and capital management needs, or for the smallest.
SOURCE Promontory Interfinancial Network, LLC
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