Bank of London and The Middle East (BLME) has formed a partnership with Akoni Hub to make its fixed term deposit products available on Akoni’s unique cash management platform. Akoni’s customers are now able to place money in the Bank’s Premier Deposit Account via its online system.
Akoni Hub is a cash management platform for wealth managers and SMEs and has a client base made up of corporates, charities and high-net-worth individuals. The platform enables the easy opening and managing of multiple savings accounts, providing customers with a single view of all of their cash, no matter where it is held.
Those opening an Akoni account can access a range of accounts from multiple banks, now including BLME.
Andrew Ball, CEO of BLME, said that the Bank’s partnership with Akoni Hub would diversify its sources of funding.
He said, “The Akoni Hub platform is recognised by clients as a powerful cash management tool, and we believe that the combination of Akoni’s platform and BLME’s competitive products is a great opportunity to extend our position in the UK savings market.
“We look forward to working closely with Akoni Hub and making our savings solutions available to a wider audience on their platform.”
Felicia Meyerowitz Singh, co-founder and CEO at Akoni Hub, added: “We’re delighted to welcome BLME to the Akoni Hub platform.
“This partnership expands the range of attractive savings products available to our clients to provide them with better rates of interest and a reduction in risk, all within one online application.”
BLME is an award-winning, Sharia'a compliant bank, providing Real Estate focused Wealth Management solutions, Commercial Real Estate Finance, and savings products.
Named as Best Fixed Rate Account Provider four years running in the Moneyfacts Awards, BLME customers enjoy competitive saving rates and protection under the Financial Services Compensation Scheme up to the statutory limit.
BLME is authorised by the PRA and regulated by the FCA and PRA.
BLME is an independent wholesale Sharia’a compliant bank based in London. Led by a management team that brings together a combination of experienced international bankers and leading experts in Islamic finance, BLME has three key business areas: Wealth Management solutions, Commercial Real Estate Finance, and savings products.
BLME is authorised by the PRA and regulated by the FCA and PRA. For more information, please visit our website www.blme.com.
Find out more about Akoni: Akoni is an award-winning UK cash platform, which provides a marketplace to financial advisors and wealth managers through a bespoke white-label offering, or off-the-shelf offering. Akoni uses innovative technology to personalise cash planning solutions for clients, and also provides a full API solution to banks and insurance clients.