StoneCastle Shines With Supernova Technology Agreement to Package Securities-Based Lending Technology into its Cash Management Solutions

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Mar 01, 2018, 09:00 ET

NEW YORK, March 1, 2018 /PRNewswire/ -- StoneCastle Insured Cash Sweep, LLC, a subsidiary of StoneCastle Cash Management, LLC ("StoneCastle") announced today that it has formalized its agreement with Supernova Technology ("Supernova") to provide a complete end-to-end securities-based lending technology solution to its brokerage, advisory, and other financial intermediary clients. Supernova's technology will be packaged in with StoneCastle's insured cash sweep and position traded offerings, collectively, CashSuite®.

"Supernova's technology and thought leadership in securities-based lending is fascinating," said Dan Farrell, Chief Executive Officer of StoneCastle Cash Management. "It's so simple, so elegant, and so incredibly powerful for brokerages and advisory firms when used in combination with a comprehensive cash platform." Brokerages and advisory firms are adopting new technologies at a fever pitch pace to drive down costs, elevate the client experience, broaden company allure to recruit talent, and to remain competitive. Leveraging the power of borrowing as part of a comprehensive financial plan through a thoughtful tech solution is rapidly becoming the norm across the industry.

"Our vision is a future where individuals won't have several loans," said Tom Anderson, Supernova's Founder and CEO, "but rather one loan, a single lending solution, to fulfill all of their needs. Packaging our technology with the incredible growth and distribution of StoneCastle expands the reach of our vision and gets it into the hands of advisors where it can do the most good for their clients and the value of their businesses." With its focus on borrower protection, Supernova's technology is designed to guide the financial conversation and address both sides of the client balance sheet—assets and liabilities together. The ability to bridge the two is an evolution for brokerages and advisory firms that will undoubtedly set them apart. "Since day one our goal is to help our financial intermediary clients by providing the tools they need to safely and efficiently grow their businesses. Today is a new day one," added Farrell.

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About StoneCastle Insured Cash Sweep, LLC
StoneCastle Insured Cash Sweep, LLC, a subsidiary of StoneCastle Cash Management, LLC, is a leading administrator of insured cash solutions for many of the world's largest institutions and family offices. Today, the firm extends the reach of its operational and technology platforms through a daily cash sweep solution made available to brokerages, registered investment advisers (RIAs), trusts, and other programs offered through financial intermediaries and wealth managers. StoneCastle is backed by the strength and stability of world class partners, CIBC and Charlesbank Capital Partners.

About Supernova Technology
Supernova has built the world's only fully-customizable, end-to-end software solution to address the universe of securities-based lending. The company empowers banks, wealth management firms, and financial advisors with education and software to deliver easy-to-use lending products to their clients. Using state-of-the-art collateral monitoring systems, Supernova provides a level of borrower protection that very few in the industry can match. Supernova Technology is based in Chicago, IL.

SOURCE StoneCastle Cash Management, LLC