Who owns Promontory Financial Group?
IBMPromontory Financial Group / Parent organization
Promontory became a wholly owned subsidiary of IBM in 2016. Today, Promontory is a global firm with offices around the world.
How much did IBM pay for Promontory?
Promontory was paid more than $900 million for the work, it disclosed in 2013. The company said at the time that it put in several million hours on the project and stood by the quality of its work.
What is Promontory in banking?
IntraFi Network (Formerly Promontory Interfinancial Network), LLC, is a privately held firm with a network of financial institutions that has approximately one-third of all U.S. commercial banks and thrifts as members.
Who bought Promontory Interfinancial?
Blackstone Group
Blackstone Group is buying Promontory Interfinancial Network for $2.5 billion, sources told Buyouts. Launched in 2002, Promontory provides technology-based services to banks to help them retain large-dollar relationships.
How does promontory make money?
It also must account for potential balances a bank customer already has at a matched institution. IntraFi makes money from fees paid by banks based on deposits placed through the system.
What is a sentence for promontory?
Promontory sentence example. The town is situated on a rocky promontory , crowned by a Byzantine fortress, and has a growing trade. Its castle, standing on a promontory , is of unknown age. The great artificial harbour, enclosed by breakwaters, is bounded on the south by a slight promontory .
What does Promontory Interfinancial Network do?
Promontory Interfinancial Network is now IntraFi NetworkSM. Our innovative products help financial institutions and organizations of all sizes keep customer money secure, manage cash balances, and increase profitability in ways that would be too difficult or too costly for each to achieve on its own.
What is a sentence for Promontory?
Is promontory a cliff?
A promontory is a high, rocky cliff jutting into a body of water. A promontory can be a foreland, headland, or rocky cliff. Think Ireland’s Cliffs of Moher jutting into the sea.
How are promontories formed?
Most promontories either are formed from a hard ridge of rock that has resisted the erosive forces that have removed the softer rock to the sides of it, or are the high ground that remains between two river valleys where they form a confluence. A headland, or head, is a type of promontory.
Is a bluff a promontory?
noun, plural prom·on·to·ries. a high point of land or rock projecting into the sea or other water beyond the line of coast; a headland. a bluff, or part of a plateau, overlooking a lowland.
What is the difference between a peninsula and a promontory?
As nouns the difference between promontory and peninsula is that promontory is a high point of land extending into a body of water, headland; cliff while peninsula is (geography) a piece of land projecting into water from a larger land mass.