Proxymity and Deutsche Bank Extend Their Partnership With Singapore Market Deployment

LONDON, England, July 29, 2024 (Newswire.com) - Proxymity, the leading digital investor communications platform, announces a significant milestone as Deutsche Bank Singapore goes live with Proxymity’s Vote Connect Global (VCG) product. Deutsche Bank is the first client to launch part of Proxymity’s Vote Connect system in Asia, with Singapore serving as the inaugural market for Proxymity in the region. Proxymity’s VCG product is live for both the Singapore domestic market but also where Deutsche Bank Singapore acts as a global hub providing access to global markets.

Launched at last September’s Sibos event in Toronto, Canada, Proxymity’s VCG is a revolutionary proxy voting solution that enables complete coverage of general meetings for financial intermediaries operating globally. Leveraging the unique power of Proxymity’s "golden source" issuer announcements and intermediary networks, with the ability to source meetings from, and send voting instructions to, any local intermediary, VCG seamlessly connects with local intermediaries worldwide.

This global service provides a complete experience for all general meetings and proxy voting activity. According to The Economist, the percentage of global activist demands in Asia overtook Europe in 2023, showing a clear need for accessible, streamlined digital investor communications. Proxymity’s VCG addresses this demand.  

The deployment of VCG in Singapore underscores Deutsche Bank’s commitment to shareholder democracy, with Proxymity’s digital proxy voting service enhancing transparency, accuracy, and speed. By harnessing the power of VCG, Deutsche Bank Singapore can now access faster notifications, better deadlines, and real-time voting position data across their agent network of over 60 markets, positioning them at the forefront of the corporate governance revolution in Asia where regulators are taking steps to strengthen board governance.

Deutsche Bank’s partnership with Proxymity is a vital part of the company’s commitment to driving innovation and efficiency in the financial industry. By leveraging Proxymity’s cutting-edge technology, Deutsche Bank is able to provide clients with unparalleled transparency, accuracy, and speed in investor communications. This collaboration sets new benchmarks for efficiency and integrity in investor communications, elevating standards across Singapore and the wider global markets.

Proxymity’s commitment to transforming investor communications in the Asia-Pacific region is underscored by its recognition as the Fintech of the Year for 2023 by the Global Custodian Asia Awards. This award is a testament to Proxymity’s ongoing excellent work, growth, and impact in the APAC region. 

Anand Rengarajan, Managing Director, Global Head of Sales & Head of Asia Pacific, Securities Services, Deutsche Bank, commented: “We are delighted to expand our relationship with Proxymity. Deutsche Bank is transforming its post trade services, and our partnership with Proxymity and its innovative technologies enables us to craft the latest and best in class service offerings for our clients.”

Dean Little, Co-Founder and CEO, Proxymity, added: “We are thrilled to build on our partnership with Deutsche Bank, moving into Singapore and are grateful for our continued global partnership with Deutsche Bank and locally with Deutsche Bank Singapore. Following our 2023 Global Custodian 'Leaders in Custody' award for innovation in the Asia region, we are excited to deliver on our mission to revolutionise investor communication globally to the region. With this partnership, we’re actively solving the challenges faced by shareholders, issuers, and intermediaries, to pave the way for true global shareholder democracy.”

ENDS

About Proxymity 

Adopted by 70% of FTSE 100 companies, Proxymity connects the world’s ecosystem of issuers, intermediaries, and investors digitally in real time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world’s largest financial institutions, Proxymity’s ground-breaking technology has also been recognised industry-wide, with recent awards including GC Magazine’s “FinTech of the Year 2024” and “FinTech of the Year (Asia) 2023” FSTech’s “Most Disruptive Technology in FinTech”.

Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as “golden source” and provide institutional investors with the time to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations such as the Shareholder Rights Directive (SRD II). 

Proxymity promotes enhanced environmental, social, and governance (ESG) by improving communication between issuers and investors while making it easier for intermediaries to provide efficient, timely and compliant client service. 

The company is backed by a global consortium of the industry’s most influential financial institutions, representing seven of the world’s top ten Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street). 

For more information, visit www.proxymity.io.

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

Notes to Editors

For more information, please contact: 

Sapience Communications: Richard Morgan Evans, Alice Lim

020 3327 8422 |       [email protected]

Source: Proxymity Limited