Safened Partners with DepositBook
A press release entitled, "FinTechs Safened and DespositBook announce a Strategic Partnership," explains, "Safened, based in Amsterdam and its US broker/dealer affiliate Safened US Inc. are pleased to announce their strategic partnership with DepositBook, a UK and Dubai based deposit platform. With this partnership Safened will be able to provide US and European corporate and institutional clients access through their Global Liquidity Platform to the DepositBook's network of Partner Banks based in countries of the GCC (Gulf Cooperation Council e.g. United Arab Emirates, Qatar and Kuwait) and Asia." The release quotes Co-Founder & Director of Safened Chris van Straeten, "Our partnership provides a unique wholesale liquidity solution for our US and European corporate and institutional clients, whilst offering highly rated GCC banks attractive USD funding alternatives. With our partnership, we can offer our US customers potentially attractive risk adjusted returns on term deposit offers of these GCC banks." The release continues, "The strategic partnership will also cover joint product roll outs and explore cost and revenue synergy and will create a truly global, cross-border marketplace by connecting banks with corporate and non-bank institutional depositors using advanced technologies and transaction processing structures." Sid Bhandari, Founder & Director of DepositBook, comments, "The partnership between Safened and DepositBook will significantly accelerate growth and provide a strong value proposition to the customers and Partner Banks of both platforms. We will benefit immensely from the scale and global presence of a combined platform and are excited to be embarking on this journey with them." The release adds, "We invite Corporate Treasurers, Banks, Wealth managers, Money Market Fund Managers and any other qualified investor to participate in our upcoming Quarterly Liquidity Webinar, moderated by our partner The Carfang Group, to hear more on how to offload surplus liquidity for banks, corporates and any other QIB. You can sign-up here."
