Connecting Community and Unlocking Value: A Use Case for Yield Exchange

Yield Exchange is transforming treasury management for financial officers everywhere and in this blog, we wanted to share one recent case for how Yield Exchange is supporting municipalities and financial institutions in Canada.

The answer to what value does a two-sided marketplace can offer always comes down to one thing...connection!

The key factor in finding success as a marketplace service is being able to recognize the needs and challenges of your clients on both sides of the aisle. This is where Yield Exchange shines and why we wanted to share this recent story of success with two of our clients!

On the left: Looking for new depositors

One of the challenges faced by credit unions and other financial institutions (FIs) is securing new depositors quickly when looking for cash. As an FI experiences shifts in their financial situation, they often offer promotional rates on new products they are launching. The issue is getting this information out there!

Finding new depositors can be tough, usually requiring extensive marketing costs to promote and share their rates out. This is especially true when you want to guarantee a certain minimum deposit size or target a specific demographic of customers. This was the experience of one of our FI partners who was looking for an easy to reach new customers on a great rate offer they had available!

On the right: Looking for great rates

On the other side, the process for organizations to find rates can be long and tedious. When large entities are looking to make a deposit, getting the best rate can take days of calling up different FIs, asking for offers and slowly negotiating a good deal. Municipal governments are a great example of an organization that can command a lot of leverage to get a great rate, but don’t have as much time to spend shopping around.

Let’s make a match!

When the treasurer of the Town of Clareholm signed up for Yield Exchange, he knew it was a tool that could help him get better rates for his municipality, but he wasn’t expecting just how fast it would work! 

“I loved how easy the platform was to use. It only took seconds to make a post and get rates from multiple financial institutions! We were very happy with the rates we received, and it was a very smooth and fast process in investing our funds.  This is a great tool for any organization to efficiently find the best rates for GIC investments.”

The second he posted a request, we sent that information straight to our FI partners, one of whom was ready to make a deal. In this case, the partner was a provincial credit union and this is what they had to say about the platform.

“I was honestly amazed at how straight forward the process was send rates to potential depositors. I knew exactly how much the investment was and who I was working with right away. Within one day of our rate being selected, the client had already opened an account and transferred the funds to close the deal!”

These are the stories that showcase the power of Yield Exchange. What would have taken days of back and forth from both sides, turns into an instant connection through our platform.

Changing the game for GICs!

GICs are a key tool for many organizations trying to make the most of their cash. Until now, most of these organizations had to rely on a single FI or expensive deposit brokers to get their rates, with no simple way to know for sure if they could be getting more. For these organizations, Yield Exchange is your answer.

We give you instant access to over 20 different financial institutions so you can get great rates instantly. Sign up for a free account today.