Payment technology

ICBA, Promontory Interfinancial launch online asset marketplace for banks

Promontory Interfinancial NetworkThe Independent Community Bankers of America and Promontory Interfinancial Network announced last week the launch of Bank Assetpoint, an online marketplace that allows community banks to connect with market participants and buy and sell bank assets.

The national release follows the beta release of the platform in February.

“ICBA is encouraged by the success of Bank Assetpoint during its beta period and is excited to again bring the service to our members’ attention as it becomes nationally available,” Dan Clancy, the ICBA’s executive vice president of services. “This platform simplifies the asset market by offering a secure space, allowing community banks to develop relationships with potential buyers of bank assets and to diversify their portfolios.”

Bank Assetpoint allows bankers at community institutions to put assets up for sale directly or through a real estate broker or advisor, thereby creating a single listing open to a large pool of potential buyers. Bankers can monitor assets that may help them realize the market value of their own assets and to diversify their portfolios.

The platform also offers information on third-party support, including pricing and valuation experts, correspondent banks and real estate brokers.

“Bank Assetpoint pulls everything—the asset listings, the players, the professional advisors—onto one comprehensive platform,” Richard Walter, the senior managing director at Promontory Interfinancial Network and head of Bank Assetpoint, said. “In just eight months, it has created new opportunities for buyers and sellers to connect, allowing banks to diversify and enhance their portfolios.”

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