What does DepositBook do?
We are a DIFC and a UK-based financial technology platform providing an open banking solution in the $21 trillion wholesale deposit market. We create a digital network, which enables global banks, corporate and institutional borrowers and lenders to trade and manage liquidity efficiently. Our partner banks are able to use as an alternate digital funding channel to raise wholesale funding from global quality corporate and institutional investors. Our technology allows a fast, secure and seamless enablement of these transactions.
Why is it a great solution for banks and corporate/institutional investors?
Banks are seeing us as their long-term partners to help them raise funding with a global customer base through a cross-border online platform. We help banks to:
- Reduce their cost of funds and diversify the customer base by bringing new clients outside the existing coverage area.
- Avoid the extensive and costly process of account opening and account maintenance.
- Help them participate in global RFQs for bespoke deposit requests.
- Run liability campaigns.
- We also provide them analytics to help them position their pricing their deposits in an efficient way.
Since the platform is underpinned by a central custodian structure, global customers discover best-in-class deposit rates from banks through a single account and can avoid the hassle of multiple onboarding. They get access to global and regional banks from developed and emerging economies. A customer can enable a placement of deposit to any bank on our platform within minutes.
How does it help in funding big-ticket transactions?
We negotiate special rates for bulk deposits. We then run a ‘pool’ campaign where customers can place order in different order sizes. These are aggregated and put as one bulk deposits under the name of the custodian. Customers can take advantage of special rates available through this mechanism.
How is DepositBook disrupting the market?
We are fundamentally changing how liquidity is managed by key institutional players and how banks are raising liabilities. Traditionally, most banks raise funding through branches, their coverage teams and by voice broking market. By creating a technology driven marketplace, we are allowing market participants to trade and manage liquidity by linking seamlessly two counter-parties anywhere globally and then be able to transact online in a completely safe and transparent market.
We believe that this will fundamentally change the way corporate treasury manage their current funds. Banks will rely more and more digital channels for their funding requirements.