BSM PRODUCT
Product Overview
- The industry’s only complete in-house sweep account product
- A turnkey solution
- Easy, automated sweep compliance
- Improved profitability and competitiveness
- Full control
- Creates new fee income
- Enhances your product offerings
Bank Sweep Manager's product, BSM, offers community banks a complete, turnkey solution for in-house sweep accounts, eliminating the need to sweep funds out of the bank to third-party money market and brokerage firms. BSM allows you to retain the relationship with your most valued commercial customers and keep all of the funds on your general ledger. The benefit is significant: enjoy a margin of 200-300 basis points vs. 25-35 basis points annually on the same money with a money market service provider.
With BSM, you take back control -- you set the interest rates, you set the fees and you keep the spread. Plus, your in-house sweeps are fully compliant and managed in only minutes per day.
- Allocation/Notification software with automatic encrypted email
- Corporate Sweep Agreement
- Retail Sweep Agreement
- Custodial Agreement
- Target Balance Analysis spreadsheet
- Marketing examples
- Complete operations manual
Today, more than 400 community banks have licensed BSM for their in-house sweep account offerings in 39 states -- collectively carrying balances in excess of $8 billion and improving their bottom lines every day.