Landing Rock Cash Management is an online cash management provider incorporated in the State of Delaware in October 2008. It’s goal is to be the premier online cash management provider in the United States, and its primary product is the Landing Rock Insured Deposit Account (‘IDA’).
The IDA seeks to provide a competitive level of interest in federally insured institutions with liquidity, safety and 24/7 access to account information via the website. Deposits and interest in the IDA are federally insured and distributed among credit unions and well-capitalized banks and savings institutions as defined by FDIC and NCUA regulations.
By spreading deposits among multiple institutions, IDA is able to offer a higher level of federal insurance coverage compared to if a client placed their deposits in a single federally insured institution.
There are currently more than 80 federally insured institutions in Landing Rock’s growing deposit network. Having recently completed the integration of Landing Rock’s second acquisition in the cash management space, it is adding new deposit taking institutions to its network weekly and will eventually be able to offer up to $50 million or more in federal insurance coverage per tax identification number. In addition, driven by current client and market demand, Landing Rock will soon be launching a certificate of deposit product, also supported by proprietary software.
Landing Rock’s goal is to be the most efficient and dependable online cash management provider in the industry.
The development of Landing Rock’s proprietary software and user experience is driven by listening intently to the demands of its existing client base, and to address immediate market needs. Its technology is cloud based with data security being of the utmost importance. Its innovative approach to cash management is supported by a license to the patent portfolio of Island Intellectual Property LLC. Island IP is also a Double Rock Corporation subsidiary and holds the largest, and most successful patent portfolio in the federally insured cash management products and services industry.
From a customer perspective, Landing Rock wants its user experience via the website to be simple and efficient.
Landing Rock Cash Management was established to appeal to everyone. Clients range from individuals to public entities, large and small corporations and everything in between, as cash management is universal need. Clients can open an account online in just a few minutes, and the compliance process for account approval takes less than 24 hours. Clients can also access their accounts online with privacy and security, initiate transactions, see transaction history, retrieve monthly statements, link bank and brokerage accounts, and exclude federally insured institutions from receiving funds to ensure full insurance coverage.
Notifications to clients are sent via email advising of the status of transactions, availability of statements, and updates to legal disclosures. Similar notifications are sent to any financial advisor related to the client, so they stay in sync and have access to documents for investment oversight, financial planning and tax purposes.
Landing Rock is a wholly owned subsidiary of Double Rock Corporation, a financial services and technologies holding company incorporated in the State of New Jersey in January of 1970.
Today Double Rock companies provide innovative cash, cash-related, and technology solutions to the bank, broker-dealer, investment advisory, qualified plan and direct retail markets. Double Rock is headquartered in New York. Through its companies’ broad service offerings, the business and technology strategies it develops help individuals achieve higher levels of safety and interest with cash management accounts, and companies improve bottom line profits, achieve higher rates of client acquisition and retention, and realize greater efficiencies.