NEW YORK, April 25, 2024 /PRNewswire/ -- R&T Deposit Solutions ("R&T"), a leading provider of tech-enabled cash management and deposit placement programs, has announced a strategic Collaboration Agreement with Supernova Technology ("Supernova"), a prominent financial technology company specializing in digital wealth-based lending solutions.
Under this agreement, R&T's subsidiary, Total Deposit Solutions, LLC, will transition its Securities-Based Loan Management System ("LMS") client base to Supernova, providing clients with access to Supernova's cloud-based securities-based lending and collateral risk management solutions. Clients will also retain access to Federal Deposit Insurance Corporation ("FDIC")-insurance cash sweep and deposit placement programs offered by R&T.
Joe Jerkovich, President & CEO of R&T Deposit Solutions, highlighted the importance of adapting to evolving investor demands, stating, "Industry trends suggest that there is an increasing demand among investors for a more holistic approach to wealth management... offering expanded products and services that combine these capabilities in a seamless way will become increasingly important."
Tao Huang, CEO of Supernova, expressed enthusiasm about the collaboration, stating, "We are excited to welcome this group of new clients. It's a testament to Supernova's reputation as the leading securities-based lending solution provider."
The partnership between R&T Deposit Solutions and Supernova aims to enhance value and innovation in the financial services industry, with a focus on providing superior solutions to clients. Both companies are committed to exploring opportunities for further enhancement in their offerings.
For more information about R&T Deposit Solutions and Supernova, please visit their respective websites.
About R&T Deposit Solutions:
Established in 1974, R&T Deposit Solutions offers cash management and deposit placement programs to the financial services industry, assisting various institutions in meeting their unique cash sweep and deposit funding needs. The company is a recognized leader in deposit network administration, providing access to billions of dollars in reciprocal deposits and expanded FDIC-insurance coverage.
About Supernova Technology:
Supernova Technology, based in Chicago, specializes in providing an end-to-end software solution for securities-based lending automation. The company empowers financial institutions and advisors with low-interest rate liquidity solutions for a broad client base, supported by state-of-the-art risk monitoring systems.
Contact:
Teresa Murphy
R&T Deposit Solutions
[email protected]