BSM PRODUCT
How it Works
In just minutes a day, you can manage and administer an in-house sweep solution. BSM is easy to install and use by your existing staff with minimal training.
Here's how BSM works:
- The software is a full Windows application and requires no integration with your existing core application.
- You can import account balances and custom data with a simple file format
regardless of your core application.
- Customer balances are swept overnight into a secondary account
(Repurchase Agreements, Repos).
- Daily balance updates take only minutes.
- Upon balances being updated, the software automatically allocates customer
balances to securities pledged as required by FDIC.
- The product then instantly produces the repurchase agreement confirmations
in PDF format and automatically sends a secure email of the PDF report to the client
to ensure regulatory compliance.
- Since it’s a daily sweep, it supports an unlimited number of transactions
without Reg D limitations. - BSM is fully audi tab.
With BSM allowing you to maintain in-house sweeps, you now have total control of the fees you set and the rates you pay -- you keep the spread. We stand by our technology, compliance, and customer support.