The latest technology news in the wealth management sector from around the world.

Apex Group, the financial services provider, announced yesterday that it has expanded its digital banking services to offer a better service to institutional clients via its subsidiary European Depositary Bank.

The EDB platform serves asset managers, special purpose vehicles, family offices, trusts and ultra-high net worth individuals. 

The digital enhancements make it possible for clients to open multi-currency accounts quickly and manage day-to-day transactions, including global payments, foreign exchange requirements and cash management through automated money market sweeps from a single online dashboard, Apex Group said. 

“Over the course of the pandemic, as individuals, we have become more accustomed to the ease and convenience of the digital offerings of retail banks but frustrated by the lack of the same functionality and ease of use when it comes to everyday institutional banking,” Ankit Shah, head of digital banking, Apex Group, said. 

EDB was founded in 1973 in Luxembourg, originally as a subsidiary of Hamburg-based private bank M M Warburg & Co and subsequently bought by Apex Group in 2019.