It’s the beginning of a new decade. For many, that means it’s time to look back at the last few years’ business decisions and identify opportunities for growth and improvement. This process can be stressful, especially if the past few years have been challenging, but it should be exciting. After all, you are making changes that will help your business to be more profitable in the coming decade.
In most cases, optimizing your business processes requires painstaking work and dedication, in addition to lots of your time. But what if we told you there was an easy way to reduce your workload while improving your bottom line?
Fintech is changing the way property managers optimize their reserve cash.
By now, you’ve probably heard the term fintech. But what is fintech, and how can it help you earn more money on your reserve cash?
Fintech, short for ‘financial technology’, entails utilizing advanced computer systems to automate tedious financial processes. One of the processes where fintech can provide the most benefit is the management of reserve cash.
ADM gets you the MOST competitive return on your property’s reserve cash.
For property managers, we understand that having liquid cash on hand for maintenance and emergencies is critical to the success of your businesses. For most, this has meant keeping a large sum of cash in a deposit account at a local bank.
In many cases, a money market or other interest-bearing deposit account was utilized to earn a return on those deposits while they were waiting to be used. And, unless the business was managing relationships with multiple banks, they were stuck with the rates that were available at their local bank. In today’s world, that means property managers are leaving profits on the table.
Thanks to fintech, and the proprietary technology developed by American Deposit Management Co., those days are over. ADM has developed a network consisting of hundreds of community banks that compete for your deposits. This technology ensures you are earning the MOST competitive return on your deposits, and that’s not all. In addition to the MOST return, you can count on ADM’s fintech to provide the MOST protection for your funds, without sacrificing liquidity.
ADM’s fintech makes it possible to secure FDIC Insurance protection for up to $100 million in deposits.
As you probably know, the FDIC provides insurance on the funds individuals and organizations deposit into FDIC member banks, up to $250k per depositor, per institution. In the past, this meant you needed to have relationships with multiple banks in order to secure FDIC insurance on any amount over $250k. As you probably know, managing statements, reconciliations and relationships with multiple banks can be a full-time job. And, if you wanted to get the best rates, you’d need to evaluate and track interest rates at all those institutions. For most organizations, the increased returns didn’t make up for the work required to manage the cash, until now.
At ADM, our proprietary fintech provides a unique solution to those cash management problems. With a single deposit made through our online client portal and a single monthly statement, you can access the advantages of having relationships with hundreds of banks without the hassle. This means your business gets the benefits of all those banks competing for its deposits, without the overhead of managing multiple banking relationships. The best part about our service, is you keep your current bank. We aren’t here to replace your bank; we know that relationship is invaluable to your business.
With ADM you get the MOST safety and the MOST return on your reserve cash.
If you’re looking to improve your bottom line for the new year, there is no easier place to start than a Marketplace Banking™ account at ADM. It’s easy to get started and you can begin taking advantage of the MOST safety and the MOST return on your business deposits within a matter of a few hours. Check out our short video to learn more:
To get started today, download our BOARD FAQ sheet for property managers and contact our team.