#Luxembourg #FundBank #European Central Bank

FundBank (Europe) S.A. Authorized by ECB to Operate in Luxembourg

On January 30, 2025, FundBank Group proudly announced that the European Central Bank (ECB) granted its authorization to FundBank (Europe) S.A. on December 16, 2024. This approval permits FundBank to function as a credit institution in accordance with the Luxembourg Financial Sector Act of April 5, 1993, as amended. The operations of FundBank (Europe) S.A. are set to commence in 2025 and will be directly supervised by the Commission de Surveillance du Secteur Financier (CSSF) of Luxembourg.

A New Era in Banking Services

Based in Luxembourg, FundBank (Europe) S.A. aims to deliver efficient and seamless banking solutions specifically tailored for clients throughout Europe. This new entity will complement Luxembourg's alternative investment fund ecosystem while collaborating closely with key stakeholders in the investment fund sector. This partnership addresses the critical need for swift and efficient banking account opening procedures, personalized banking solutions, and technologically advanced custody services aimed at investment funds.

Innovative Offerings and Commitment to Security

Specializing in innovative proposals within the realm of alternative investment funds, FundBank (Europe) S.A. not only accepts deposits and provides credit solutions but also operates as a trustee for its clients. This ensures that client funds remain secure and accessible, even amid market volatility. Implementing cutting-edge technology, including artificial intelligence tools, FundBank will facilitate an efficient onboarding process, ensuring clients enjoy a rapid and compliant experience.

Experienced Team at the Helm

All personnel at FundBank (Europe) S.A. will be based in Luxembourg and include top-notch professionals with extensive backgrounds in banking and investment fund sectors. Colm O'Driscoll, the Vice President of FundBank (Europe) S.A., stated, "As the asset management industry rapidly evolves, banking solutions must evolve as well. We've recognized a growing demand from asset managers for a staunch and dedicated banking partner offering customized banking solutions."

Steve David, CEO of FundBank (Europe) S.A., elaborated further: "We identified the demand from European fund managers and administrators for a banking partner who can provide seamless banking integration tailored specifically to their needs. This authorization allows us to contribute positively to the development of the alternative investment fund sector in Luxembourg through innovative and pioneering banking solutions."

FundBank Group: A Leader in the Financial Sector

FundBank Group is an institutional banking group operating in the U.S., the Cayman Islands, and Luxembourg, serving the global asset management sector. The expert team at FundBank is driven by innovative technology, enabling them to offer specialized banking solutions that support asset management firms in achieving growth and success.

As FundBank (Europe) S.A. prepares to commence its operations under the name "FB Tech S.A." until it officially starts acting as a Luxembourg credit institution, it is positioned to redefine banking dynamics within the European market. Expect further announcements regarding their technology, products, and expanded geographical reach in the near future.