Assuro Digital Services to Launch Digital Guarantees in the Australian Market
FOR IMMEDIATE RELEASE
Perth, 1 May 2024 – Assuro Digital Services, a leader in digital guarantee solutions and member of the Assuro Group, announces its official launch in the Australian Market as the exclusive distributor of Guarantee Vault, technology for the issuance and safekeeping of digital guarantees, including bank guarantees, surety bonds and corporate guarantees. The company has signed an exclusive agreement with Digital Vault Services GmbH (DVS) to licence and operate its technology in Australia and New Zealand. This strategic partnership marks a significant step forward in reshaping the landscape of financial guarantees for banks and large beneficiaries across the region.
Leon Weston, Assuro Digital Services Chairman, 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, revolutionising the way these transactions are conducted."
This agreement comes after a Memorandum of Understanding was signed between Assuro and DVS in 2023. Subsequently, Assuro Digital Services Pty Ltd was established with the backing of Assuro and the family office Hoperidge Capital. This initiative underscores the commitment of the Assuro Group to deliver innovative solutions that cater to the evolving needs in the region.
The agreement 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 established technology is widely used throughout Europe for the digitisation and storage of financial instruments and guarantees. Utilising a central register for digital guarantees, the Guarantee Vault streamlines 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 will ensure 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 Digital Services in bringing the benefits of this technology to corporates, the public sector and financial institutions across Australia and New Zealand."
The solution offers corporates seamless multi-guarantor connectivity and offers participants 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 Digital Services
Assuro Digital Services is a 100% Australian owned and operated company specialising in the distribution, origination and management of bank guarantees. Part of the Assuro Group, the company is the exclusive distributor of the Guarantee Vault in Australia and New Zealand.
About Digital Vault 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.
Media Contact:
Leon Weston, Chairman, Assuro Digital Services, [email protected]
Mariana Corte Real, Marketing and Communications Manager, DVS, [email protected]