Depowise, a rapidly growing Estonian FinTech, starts a partnership with a global financial services company Crestbridge to digitalise and automate depositary services in the United Kingdom and Luxembourg.
Depowise is focused on solutions for the asset servicing industry. Depowise provides the most complete solution for depositaries and trustees in Europe. The company’s innovative platform automates and digitises oversight, cash flow monitoring, and safekeeping of UCITS and AIF products, providing unparalleled efficiency and accuracy. Depowise’s solution is light years ahead of competitors and solves all three problems that stop financial institutions from scaling.
“Partnership with Crestbridge strengthens our position as a leading provider of depositary solutions in the European market,” notes Sven Peekmann, co-founder and CEO of Depowise.
“I very much look forward to continuing to be part of a team which delivers exceptional service and innovative solutions to our global client base,” says Kenneth Agu, Head of Depositary Services in Luxembourg at Crestbridge, which recently received approval for its Depositary Services licence in Luxembourg from the Commission de Surveillance du Secteur Financier (CSSF).
The new collaboration will bring together the expertise of both companies and provide clients with a comprehensive solution for managing alternative investment funds (AIF). Using the Depowise solution enables Crestbridge to deliver maximum accuracy and efficiency for customers by mitigating the risks inherent in the manual processes commonly used in the depositary industry.
Following its successful launch in December 2021, Depowise has experienced explosive growth and now manages assets worth 750+ billion euros. The company’s solutions have been adopted by 17 financial institutions across Europe and the UK, including banks, depositaries, fund administrators, and management companies.
The partnership with Crestbridge represents an important milestone for Depowise as the company continues to expand its reach and develop innovative solutions that meet the needs of its customers.
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