Bank Sweep Manager - Overnight Repurchase Sweep Solution

Secure top depositor relationships overnight.

Our first and most popular software solution, Bank Sweep Manager, is trusted by hundreds of banks across the nation to administer and manage their fully compliant, on-balance sheet sweeps in just minutes every day. It is the industry-leading overnight repurchase software and has been successfully passing audits and exams since 1996.

Here’s what sets our sweep solution apart:

Offers unparalleled protection in excess of FDIC insurance using on-balance sheet overnight repos
Automatically and securely generates and delivers required daily repurchase agreement confirmations for customers
Provides your bank with control of interest rates, fees and sweep thresholds that complement your existing deposit solutions
Simplifies taxes for your top depositors, ensuring only one 1099 tax form per account
Automatically creates FDIC-required confirmations, annual disclosures and other notices, and archives them

Bank Sweep Manager serves: Banks

Daily sweep account processing takes only minutes.

Our solution is crafted with usability and simplicity in mind. The stand-alone software is deployed on-premises, eliminating data security concerns and API limitations. Our software imports data from any core system automatically by using a daily file.

Following your daily pricing of securities, the solution optimizes the allocation of balances and pledged securities in excess of FDIC limits.

Sweeps made simple

Deliver peace of mind to your customers with a sweep program that is easy to explain, delivers proven performance and is fully compliant. Bank Sweep Manager has enabled financial institutions to serve thousands of customers while passing all audit and regulatory examinations for over 25 years.

Sweep Accounts Overnight Repurchase Software

Understanding Repos

Sweep accounts utilizing overnight repurchase agreements (Repos) allows you to secure your most valuable customers by protecting their deposits in excess of FDIC limits, while keeping the funds on your balance sheet.

Repos are a contract between your bank and your customers. This agreement constitutes a bank liability secured by Government Securities. You select a third-party custodian to hold those securities used as collateral.

Repos utilized in a sweep program are often called “overnight repos” because they mature on the next banking business day. After all deposits and checks affecting the DDA have been processed, the bank’s core processing system automatically looks at the balance in the DDA and transfers any funds in excess of a target balance to an investment account, initiating the repurchase agreement.

Schedule a demo

Interested and want to see Bank Sweep Manager in action? Take a moment and schedule our free demonstration so you can see the product at work. Our team will walk through the features and interface with you, answering any questions along the way.

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