Who needs safeguarding
accounts?
Safeguarding accounts are helpful for all manner of businesses, but particularly those bound by strict regulations, such as investment funds, insurance companies, brokers and payment service providers – in other words, modern fintech players
A fintech business that opens a segregated account with a bank guarantees that no funds belonging to the Bank or the fintech company will be held on that account. Having this type of account means that the fintech company will never combine its clients’ assets with those of its own or use client funds to fulfill any of its financial obligations
Advantages of safeguarding
accounts
