Apex Group launches new digital banking service 08 August 2022Europe Reporter: Jenna Lomax
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Apex Group (Apex Group) has launched a new solution to help enhance its clients’ management of day-to-day transactions.
The new solution will be delivered by Apex’s subsidiary European Depositary Bank (EDB).
Through the new solution, Apex’s clients will be able to open multi-currency accounts and manage their day-to-day transactions through automated money market sweeps from a single, online dashboard.
The platform is designed for asset managers, special purpose vehicles, family offices, corporates and trusts for transactions including global payments and foreign exchange requirements.
The platform includes onboarding and bank account opening, account visibility and transparency via an accessible dashboard as well as two-factor authentication for efficient security.
The EDB also houses custom payment approval processes, cash balances in 18 major currencies, real-time payments in multiple currencies, and automated money market fund sweeps in three main currencies to enable clients to improve investment returns.
Peter Hughes, founder and CEO of Apex Group, says: “EDB’s Digital Bank sits at the heart of Apex’s single-source solution, and these latest enhancements to the platform will ensure we continue to provide innovative solutions for clients which differentiate our offering as a leading global financial services provider.”
Ankit Shah, head of digital banking at Apex Group, comments: “Over the course of the pandemic, as individuals, we have become more accustomed to the ease and convenience of the digital offerings of retail banks, but frustrated by the lack of the same functionality and ease of use when it comes to everyday institutional banking.
“We are providing a secure, fast and fully digital solution that is designed specifically to eliminate the inefficiencies that asset managers and financial institutions currently face in their day-to-day banking.”
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