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Aarna Capital taps Apex Group’s EDB for Digital Banking Solutions

By Gloria Methri

July 31, 2023

  • Aarna Capital
  • Abu Dhabi Global Markets
  • Apex Group

European Depositary Bank (EDB), Aarna Capital, Digital Banking Solutions, Abu Dhabi Global Markets, Apex Group, Cash Management, FinTech, EuropeEuropean Depositary Bank (EDB), the Luxembourg-headquartered provider of banking, depositary, and custody solutions, has been appointed by Aarna Capital Limited to deliver Digital Banking solutions.

Aarna Capital is a multi-asset brokerage firm, operating from Abu Dhabi Global Markets (ADGM) and offering customers access to futures, options, FX, Bullion, equities, CFDs, and fixed-income products.

Apex Group’s Digital Banking services, delivered by subsidiary EDB, provide a cloud-based, API-integrated solution for institutional clients including Asset Managers and SPVs, Family Offices, Corporates, Trusts, and UHNWIs.

Clients such as Aarna Capital can simply open multi-currency accounts and manage their day-to-day transactions, including global payments, FX requirements, and cash management through automated money market sweeps from a single online dashboard.

EDB’s Digital Banking offering leverages proprietary technology and partnerships with leading FinTech providers to address the common challenges and points of friction experienced by institutional banking customers by providing an expanded functionality and range of services.

As part of Apex Group, EDB is one of the largest providers of depositary services in Europe for regulated UCITS and alternative funds with €180.9bn Assets under Depositary and €24.2bn Assets under Custody.

Ankit Shah, Global Head of Product – Digital Banking, EDB said, “In the rising interest rate environment people with large cash balances and client monies are seeking a banking partner who can provide competitive interest rates, immediate access, and the institutional level banking functionality required to navigate a rapidly changing and evolving regulatory and macroeconomic environment.”

Dima Nedvetsky, Senior Executive Officer, Aarna Capital added, “In EDB, we have a platform that offers exceptional digital functionality with multi-currency accounts, 24/7 access, and immediate withdrawal facilities. In particular, their multi-currency cash sweep module enables us to effortlessly optimize our cash management, automating time deposits across leading counterparties. We have been impressed by the speed and ease of account opening through EDB’s onboarding portal, with the support and advice of their expert team.”

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