Fintech Starts a Deposits Marketplace to Serve Community Banks

Grounded Technologies, a financial-technology startup, is unveiling a marketplace for deposits, loans and Community Reinvestment Act credit, with support from Bank of Montreal, to help community banks manage their balance sheets.

The marketplace will connect banks and credit unions that are looking to manage their assets and liabilities with deposit suppliers, such as large asset managers, according to the New York-based fintech. It’s working with US banks with $14 million to $2 trillion in assets, and partnering with Bank of Montreal, which will operate some of Grounded’s products, including payment rails, the companies said in a statement. ...