Reich & Tang and Smiley Technologies, Inc. Collaborating to Bring Innovative and High-tech Solutions to Community Banks


In a partnership that benefits community banks and their clients around the country, Reich & Tang (R&T), a leading fintech company specializing in liquidity, deposit and cash management solutions, and Smiley Technologies, Inc. (STI), a developer and provider of secure, innovative core banking solutions, are bringing high-tech to banks across the U.S.

“STI’s community bank customers want the broad functionality provided within STI’s SIBanking software with the ability to add innovative products and services, like those offered by Reich & Tang”

Community banks are challenged by the high cost, time-consuming conversion and lack of support when trying to implement high-tech solutions offered by industry giants. STI understands these challenges and has helped many community banks modernize and streamline their core banking applications and services so they can use their data in the most efficient and meaningful way. STI’s secure, reliable platform features a single data source and view that allows real-time access to data for both banks and their customers.

R&T helps banks overcome certain challenges as well. Many community banks struggle to secure larger deposits because of limits in FDIC insurance. Reich & Tang’s Demand Deposit MarketplaceSM (DDM) Cash Sweep Program enables bank customers to secure millions in FDIC Insurance. DDM allocates a large deposit to different U.S. banks in the network in increments not exceeding $250,000 to provide FDIC Insurance up to the program maximum, also eliminating the bank’s collateral requirement. R&T’s flexible and secure DDM program allows banks to participate in a “Receive Only,” “Send Only” or “Reciprocal” capacity, giving banks even more control over their liquidity and balance sheet management.

“We are thrilled to partner with Smiley Technologies,” explained Joe Jerkovich, Chief Operating Officer, Reich & Tang. “This unique collaboration enables us to deliver innovative, customized and flexible solutions to an underserved segment of the banking industry. Together, we are a great resource for community banks, helping them stay competitive by offering their customers access to extended FDIC Insurance integrated with STI’s high-tech core banking platform.”

“STI’s community bank customers want the broad functionality provided within STI’s SIBanking software with the ability to add innovative products and services, like those offered by Reich & Tang,” says Elizabeth Glasbrenner, President & CEO, Smiley Technologies, Inc. “STI is happy to collaborate with R&T to deliver this innovation and show that core service providers and fintechs can easily leverage their knowledge to deliver significant value to the bank customers together.”

About Smiley Technologies, Inc. (STI)

Smiley Technologies, Inc. is a trusted voice providing secure, innovative banking solutions and exceptional customer service that promotes valued strategic partnerships with its banking customers. The Company values customer-centric business practices and traditions that recall those who ushered in the first big wave of bank technology innovation a half century ago. STI is built on the idea that banking and innovation can, and should, work together seamlessly. The Company believes that the employees are just as important as the software, and invests heavily in both. STI continues to build on its commitment to deliver better banking through its innovative SIBanking™ product suite.

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About R&T

Reich & Tang provides deposit, balance sheet and cash management solutions to US banks and other financial institutions. Reich & Tang provides a complete suite of bespoke liability solutions to our network of banks around the country. Reich & Tang’s FDIC-insured cash sweep programs offer competitive rates and cash security through our sponsoring banks, broker-dealers, trust companies, and clearing platforms. Reich & Tang ensures ease of use by streamlining technology with an unyielding focus on client partnerships. Serving as consultants to our clients allows us to develop flexible solutions to meet the deposit, liquidity and investment needs of any organization.

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