Vistra receives a PSD2 license from the Dutch Central Bank in order to offer escrow and settlement services globally
Netherlands, 16 June 2022: Vistra, one of the world’s leading providers of expert advisory and administrative support to Fund, Corporate, Capital Markets, and Private Wealth clients, announced today that the Dutch Central Bank granted Vistra the European Payment Service Directive 2 (PSD2) license, enabling Vistra to offer escrow and settlement services globally from the Vistra Netherlands office. Under the newly introduced PSD2, the provision of escrow and settlement services is a licensed activity that requires a license to operate as a Payment Service Provider.
With this license, Vistra is being supervised by the Dutch Central Bank to operate as a Payment Service Provider, which gives clients the comfort that the services are being executed in a regulatory sound manner. Vistra offers a wide range of end-to-end escrow and settlement services, with a dedicated and experienced team that can guide clients through the settlement process. This includes payment security or settlement assurance for all kinds of purposes such as the handling of different asset types, large sums of money, all major currencies, multiple jurisdictions, FX requirements, high volumes of payments and payees.
“These solutions are particularly relevant for clients who are looking to mitigate risk during complex financial transactions – such as M&As or in the real estate sector – or as part of litigation settlements”, shared Casper Spindelaar, Head of Escrow and Settlement Services. “Our escrow and settlement solutions can provide clients with the reassurance and protection they require, while ensuring their deals close on time and that their assets and data are secure, particularly in cross-border transactions. In addition to competitive pricing, we offer clients speed of service responding with a fee proposal within 24 hours of receipt of the request, and setting up the escrow or settlement structure in no more than two weeks.”
“We are very pleased with this important milestone for Vistra as it demonstrates that the Dutch Central Bank recognises our rigorous control framework and attention to detail in our cash management, safeguarding and compliance responsibilities”, shared Nicole van Bunge, Country Managing Director, Vistra Netherlands.
“By partnering with Vistra, our clients will receive excellent tailor-made solutions that are delivered with speed, security, and expertise. We also tap into Vistra’s global network to ensure our clients receive the best from Vistra across the globe”, said Nicole.
For more information on Vistra’s escrow and settlement services, please click here.
The contents of this article are intended for informational purposes only. The article should not be relied on as legal or other professional advice. Neither Vistra Group Holding S.A. nor any of its group companies, subsidiaries or affiliates accept responsibility for any loss occasioned by actions taken or refrained from as a result of reading or otherwise consuming this article. For details, read our Legal and Regulatory notice at: http://www.vistra.com/notices . Copyright © 2022 by Vistra Group Holdings SA. All Rights Reserved.
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