Intermedium Financial LLC is a financial service company whose proprietary InterLINK software solution provides a seamless investment bridge between bank FDIC insured accounts and asset managers, brokerage houses and other institutional money managers looking to invest stable deposits. Intermedium’s InterLINK FDIC extension technology provides a comprehensive, turn-key solution for both banks and institutional money managers. For banks, InterLINK provides a stable source of reasonably priced deposits. For money managers, InterLINK affords access to FDIC insured accounts that provide the highest and best combination of earnings, liquidity and safety for those cash balances.
The Intermedium technical team, responsible for software development and operations, launched the R&D and programming for our software in 2002 and first rolled out the service under contract to an affiliate of a major international bank in 2007. Intermedium’s software, technology and operations teams have nearly five years of direct experience administering deposits on our technology platform for more than 100 banks and dozens of institutional money managers—consisting of over $13 billion in transactions, made up of millions of discrete trades. Intermedium recently perfected, tested and introduced our next generation InterLINK software technology platform, which management believes is the most advanced in the industry.
Intermedium employs a process known as FDIC extension which deposits institutional cash balances into savings accounts at one or more FDIC insured banks, where they earn the savings account rate of interest under the safety of a government guaranty. By splitting deposits among a network of banks, Intermedium can provide its institutional money managers with both a competitive rate of return and the protection of FDIC insurance for cash accounts of virtually any amount. Large cash accounts are allocated among network banks in increments below the standard FDIC insurance maximum while retaining, from the point of view of the original money manager, a single account with a single bank statement. From the bank viewpoint, the balances are deposited in omnibus savings accounts with one custodial account for each institutional entity.