FOR IMMEDIATE RELEASE
Perth, 1 May 2024 – Assuro, a leading provider of digital bank guarantee solutions in Australia, is proud to announce an exclusive agreement to licence the technology of Digital Vault Services GmbH (DVS) in Australia and New Zealand. This strategic collaboration signifies a monumental step forward in reshaping the landscape of financial guarantees for banks, applicants and beneficiaries across the region.
Leon Weston, CEO at Assuro, commented on the agreement, stating,
"Our partnership with DVS represents a pivotal moment in our commitment to driving innovation and excellence in the financial sector. With this transformative technology, we are poised to empower banks and businesses across Australia and New Zealand with seamless digital guarantee solutions– including bank guarantees, surety bonds and corporate guarantees – revolutionising the way these transactions are conducted."
Under this exclusive agreement, Assuro has established Assuro Digital Services Pty Ltd, backed by Assuro and the family office Hoperidge Capital. This initiative underscores Assuro's dedication to delivering innovative solutions that cater to the evolving needs in the region.
The partnership with DVS marks a strategic move for Assuro Digital Services to offer governments, corporates and financial institutions a market-leading solution for the issuance and safekeeping of digital guarantees.
The technology utilises a central register for digital guarantees, streamlining the transaction lifecycle, from application and issuance to post-issuance events and release. By aligning applicants, guarantors, and beneficiaries within a centralised digital platform, Assuro Digital Services ensures efficiency, transparency, security, and real-time accessibility for all parties involved.
Jaime Gimeno, Co-CEO at Digital Vault Services, stated, "We are pleased to have already built a trusted partnership with Assuro and are extremely excited about the potential of this new venture. Our market infrastructure technology continues to mature and has already become a recognised premier solution for digital guarantees in Europe. We look forward to working with Assuro DigitalServices in bringing the benefits of this technology to corporates, the public sector and financial institutions across Australia and New Zealand."
The solution offers seamless multi-guarantor connectivity and the flexibility of user interface (UI) or application programming interface (API) integration for seamless straight-through-processing. Assuro Digital Services prioritises bank-grade security, delivering its services using best-in-class technology.
Assuro Digital Services is currently in advanced discussions with several corporates and financial institutions, with plans to go live in Q3 2024. This milestone signifies a significant step in Assuro's journey, demonstrating its dedication to providing innovative solutions tailored to meet the changing demands of its clients. This commitment ensures long-term success within the dynamic financial landscapes of Australia and New Zealand.
About Assuro
Assuro is a multi-award-winning Australian fintech company that owns and operates a digital platform specialising in the distribution, origination and management of bank guarantees. Assuro is dedicated to helping businesses thrive by providing a suite of products that simplify bank guarantees and save their clients time and money.
www.assuro.com.au
About DigitalVault Services
Digital Vault Services GmbH is a European company offering market technology solutions for the issuance and safekeeping of digital guarantees. Designed by a working group of leading corporates and financial institutions, the technology brings transparency and efficiency throughout the entire transaction life cycle.
www.digitalvaultservices.com
Media Contact:
Leon Weston, ChiefExecutive Officer, Assuro, leon@assuro.com.au
Mariana Corte Real, Marketing and Communications Manager, DVS, mariana.corte.real@digitalvaultservices.com
