ATLANTA–CetoLogic, a provider of software and analytics, reported it continues to see strong market adoption of its Deposit Reclassification retail sweep solution, having just added four new financial institution clients including Baytown, Texas-based Community Resource Credit Union.
CetoLogic said its Deposit Reclassification reduces reserve balance requirements by reclassifying checking accounts into savings deposits, enabling low-earning and non-liquid funds previously held at the Federal Reserve to become available for loans and other higher yield investments opportunities – creating an additional and permanent revenue stream for financial institutions.