London, United Kingdom Sep 2, 2021 (Issuewire.com) - Global Deposit Marketplace DepositBook joins the Avaloq.one ecosystem
The UK and UAE-based global deposit marketplace, DepositBook, a leading provider for automated fiduciary cash management technology for private banks and wealth management companies, has joined Avaloq’s open banking marketplace.
The Avaloq.one ecosystem connects up-and-coming fintechs and their solutions with Avaloq’s global client base, consisting of more than 150 established financial institutions.
With DepositBook being part of the Avaloq.one ecosystem now, DepositBook will provide an automated fiduciary deposit platform easily accessible to banks and wealth managers looking to provide an ‘open architecture’ platform to their HNWI customers, to allocate cash efficiently across multiple global and regional banks’ deposit products. DepositBook’s innovative Platform as a Service (PaaS) solution offers a flexible and transaction-based subscription model, reducing initial implementation costs for new clients. An open API architecture enables a seamless connection and integration of the PaaS offering with existing infrastructure and processes of private banks and wealth managers.
Sid Bhandari, CEO of DepositBook said: “We believe that, with the advent of open banking, the customers of private banks and wealth managers will benefit by discovering the ‘best in class’ negotiated deposit rates in the market and centralising all their cash/money market requirements through one single platform. Private banks will benefit from cutting-edge technology to create an automated workflow solution for managing their fiduciary deposit program. They will be able to offer clients a global cash allocation and potentially have a larger share of clients’ wallets by managing their cash through one central portal.”
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About Deposit Book | www.deposit-book.com
DepositBook is a UK and UAE (DIFC) based global marketplace for wholesale deposits (High-Value Deposits). The platform matches banks with high-value cash depositors looking for yield enhancement and provides access to preferential rates from banks across the globe.
Visit us at www.deposit-book.com and contact Ritu Lal at ritulal@deposit-book.co.uk.
DepositBook Ltd is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 574048)
Media Contact
siddharth bhandari siddharthb@newbridgefintech.com 0562110863 30 Moorgate, Office 312, London EC2R 6PJ, UK http://www.deposit-book.com
