Today marks a significant milestone for U.S. banking services with the official launch of FundBank N.A. (hereinafter referred to as “FundBank”) headquartered in Austin, Texas. Approved to operate as a national bank by the U.S. Department of Treasury’s Office of the Comptroller of the Currency, FundBank is the first national bank in the country established to offer institutional banking services to the asset management industry, across both the United States and Canada.
FundBank delivers expert institutional banking services to the global asset management industry, working with both established firms and startups, to navigate banking challenges, innovate, and grow to achieve long-term success. FundBank serves the unique needs of the asset management industry by delivering specialized industry expertise and advanced technologies not available in traditional retail or commercial banks.
As FundBank continues leading the way in revolutionizing institutional banking access, its clients benefit from key advantages including:
Safety – unlike commercial and retail banks that are leveraged by design, FundBank holds all client funds in trust. Client funds are held in US government money market funds and US Treasury repurchase agreements. FundBank does not take credit, duration or liquidity risk. It does not engage in lending or other leveraged activities to ensure client funds are always secure and available, even during unprecedented market volatility.
Service – Fund Bank and its affiliates exclusively serve the global asset management industry. With a focus on private fund structures, our teams of industry experts in Europe, North America, and the Cayman Islands collaborate effectively to meet even the most stringent institutional demands.
Technology – FundBank’s state of the art banking technology offers an exceptional user experience. Its advanced banking tools, available via a secure 24/7 client portal, provide transaction initiation, reporting and information efficiently. Additionally, FundBank digital onboarding allows for fast and efficient onboarding and accounting opening.
FundBank is a leading institutional bank serving the global asset management industry. Our team of industry experts, powered by innovative technology, deliver expert banking solutions to help asset management businesses thrive and grow. If you would like to learn more about how we provide our clients with a seamless banking experience, please reach out to our team.