Apex rolls out EDB digital banking platform

Apex Group has rolled out its European Depositary Bank (EDB) digital banking platform, which aims to provide time, resource and cost efficiencies, with 24/7 access.

EDB provides banking, depositary and custody services to asset managers and SPVs. Back in 2020, EDB’s London branch received approval from the FCA to provide full depositary activities in the UK, having previously received regulatory approvals in Malta and Ireland.

This digital banking platform provides the following services and features:

• Onboarding and bank account opening
• Account visibility and transparency via a dashboard
• Two-factor authentication to enhance security
• Custom payment approval processes, including multiple-approval levels and limits
• Multi-currency account, including cash balances in 18 currencies, FX services, as well as the ability to make external payments in 33 currencies
• Real-time payments in multiple...