Titanium Financial Ltd., today announces it has mandated Apex Group Ltd. (“Apex”), a global financial services provider, to provide operational support for the launch of its global escrow service “Titanium Escrow”. Apex will provide reconciliation services, assist with payments and record keeping of the Escrow platform.
Escrow is the service of retaining funds securely in escrow accounts as underlying transaction is facilitated. Clients use Titanium Escrow to retain funds for commercial purposes such as Payment Retentions, M&A and Escrow for Indemnification Obligations, Contracting and Real Estate, or the purchase and/or transfer of large assets.
As the first dedicated and licensed escrow provider based in the UAE, Titanium Escrow is a landmark solution that uses best in class controls and procedures to facilitate global escrow services for Cash and Non-Cash Property. By using Titanium Escrow’s streamlined Escrow system, clients will reduce risk, save time, and increase efficiencies via a streamlined process delivered by dedicated relationship managers. Titanium Escrow, established in the Abu Dhabi Global Market (“ADGM”) is regulated, supervised, and authorized by the Abu Dhabi Global Markets Financial Services Regulatory Authority (“ADGM FSRA”).
This announcement is the further evidence of Apex’s growing operations in the Abu Dhabi Global Market (“ADGM”), enabling it to deliver its single-source solution to both new and existing clients in the UAE. Last year, Apex announced the launch of Compliance Services in the ADGM following the acquisition of risk and compliance consultancy Praesidium, the creation of LRI Middle East to offer third-party Management Company services, and the establishment of its Corporate Solutions business via subsidiary Throgmorton in the ADGM.
Venki Subramanian, Managing Director, Abu Dhabi, at Apex Group comments: “We have been delivering services locally to clients in the UAE for 15 years and we are excited to provide support to Titanium Escrow, a pioneering platform which we see as a real value-add for our clients in the ADGM. Traditionally, Escrow was most often associated with M&A transactions, however, we now see its popularity growing rapidly as a straightforward and efficient solution in a multitude of different scenarios including supply chain disruption and dispute resolution. The ADGM continues to provide a highly supportive and attractive environment for international businesses looking to grow and access key investor markets and we look forward to working with Titanium to bring innovative and scalable solutions to these clients.”
Ibrahim Kamalmaz, Titanium Financial Ltd., adds: “We are pleased to appoint a partner of Apex’s quality and reputation as a global financial services provider to support Titanium Escrow through the provision of reconciliation, payments and recordkeeping services. Collaborating with Apex will ensure that we implement robust oversight and efficient operational processes to support the Titanium Escrow platform. We have been impressed by Apex team’s growing local presence in the ADGM alongside a global reach and we will look to leverage their experience to deliver an enhanced service to our own clients.”
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 45 offices worldwide and 4,000 employees, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of products in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, corporate services and capital markets services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.
About Titanium Financial Ltd
Titanium Escrow, first selected into the ADGM RegLab Fintech Sandbox in 2016, obtained its full Financial Service Permission in 2020. Titanium Escrow is committed to facilitating business around the world through a fast, safe, and reliable escrow solution. We know you have demanding requirements and high expectations; so do we. Titanium Financial Ltd is registered and supervised by the Abu Dhabi Global Markets Financial Services Regulatory Authority.
Antonia Powell [email protected] | +44 (0)77 8990 2279
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