How is Jiko different from bank sweep programs, IntraFi, or ICS?

Bank sweep programs, IntraFi, and ICS networks spread a client’s cash across a network of participating banks, with each bank holding a portion as a deposit, typically to keep exposure to any single bank under the FDIC insurance limit. The client still holds a deposit claim against each of those underlying banks, and that claim is only as good as each bank’s own solvency.

At Jiko, client funds are invested directly in U.S. Treasury bills, held in the client’s name and identifiable by CUSIP, rather than held as a deposit on any bank’s balance sheet. Because there are no deposits sitting on a balance sheet, FDIC insurance limits simply do not apply, and bank counterparty risk is eliminated, rather than spread across a larger network of banks.

Additionally, clients get full visibility into the exact T-bills they hold, with real-time yield based on those actual holdings, rather than a blended rate set across a sweep network’s participating banks.