Key Takeaways:
- Yield Exchange, a Vancouver-based startup, is transforming how organizations find the best wholesale GIC rates from banks and credit unions.
- The double-sided marketplace allows organizations to request bids and receive competitive offers instantly, eliminating the need for time-consuming phone calls.
- Dozens of organizations, including the City of Vancouver and credit unions like Van City, have already signed on.
Vancouver-based startup Yield Exchange is revolutionizing how organizations find the best wholesale GIC rates from banks and credit unions. In a world where finding the best rates is a manual process filled with red tape and time-consuming phone calls, Yield Exchange’s double-sided marketplace is streamlining the process and providing instant access to competitive offers.
Wholesale GICs are a popular investment option for organizations like municipalities that need to invest the income they collect in safe investments that guarantee higher rates of return over a fixed time frame. The problem is, finding the best rates and policies is a manual process that can take a significant amount of time and effort. Yield Exchange is solving that problem by creating a marketplace where organizations can request bids from banks and credit unions on their wholesale GIC deposits, and receive competitive offers instantly.
The idea behind Yield Exchange is simple yet powerful. By connecting organizations directly with banks and credit unions, Yield Exchange is providing a platform where both parties can benefit. For organizations, it means a streamlined process for finding the best rates, while for banks and credit unions, it means access to a wider pool of potential customers.
Yield Exchange has already onboarded some of the largest banks, credit unions, BC municipalities, NPOs, First Nations and organizations onto its platform
The SVB Collapse and the Importance of Diversification
The recent collapse of Silicon Valley Bank (SVB) has highlighted the importance of diversification when it comes to investing. While SVB was not offering wholesale GICs, the collapse has left many organizations rethinking their investment portfolios and looking for more secure banking solutions.
Yield Exchange’s platform provides a solution to this problem by giving organizations access to a wider pool of banks and credit unions. By diversifying their investments across multiple institutions, organizations can reduce their exposure to risk and ensure that their investments are more secure.
How Yield Exchange Works
Yield Exchange’s platform is designed to be user-friendly and easy to use. Organizations simply need to create an account on the platform and fill out a request for bid form. They can specify the amount they want to invest, the length of the investment term, and any other requirements they may have.
Once the request is submitted, banks and credit unions on the platform can review the request and submit competitive offers. Organizations can then review the offers and choose the one that best meets their needs.
The platform also provides real-time data on the best rates available, making it easy for organizations to stay on top of the market and ensure that they are getting the best deal possible.
Benefits of Yield Exchange
There are several benefits to using Yield Exchange’s platform. Some of the key benefits include:
- Time Savings: The platform eliminates the need for time-consuming phone calls and manual processes, allowing organizations to find the best rates quickly and easily.
- Access to a Wide Range of Banks and Credit Unions: By connecting organizations directly with banks and credit unions, Yield Exchange provides access to a wider range of options than traditional methods.
- Competitive Rates: Banks and credit unions on the platform compete to offer the best rates, ensuring that organizations get the best deal possible.
- Real-Time Data: The platform
- provides real-time data on the best rates available, making it easy for organizations to stay on top of the market and ensure that they are getting the best deal possible.
Another benefit of using Yield Exchange’s platform is that it can help organizations to build stronger relationships with their banking partners. By providing a streamlined process for finding the best rates, Yield Exchange is helping to foster greater collaboration and transparency between organizations and their banking partners.
The Future of Yield Exchange
Yield Exchange has already achieved significant success, with dozens of organizations and banking partners already signed on to the platform. However, the company has even bigger plans for the future.
One of Yield Exchange’s key goals is to expand the platform to other types of investments beyond wholesale GICs. The company is already exploring opportunities to expand into other areas, such as commercial paper and corporate bonds.
Yield Exchange is also planning to expand its reach beyond Canada. The company sees significant potential in other markets, such as the United States and Europe, and is already exploring partnerships with banks and credit unions in those regions.
Conclusion
Yield Exchange is a Vancouver-based startup that is transforming how organizations find the best wholesale GIC rates from banks and credit unions. The company’s double-sided marketplace provides a streamlined process for finding the best rates, eliminating the need for time-consuming phone calls and manual processes.
Yield Exchange’s platform has already onboarded dozens of organizations and banking partners, and the company has even bigger plans for the future. By expanding into other types of investments and other markets, Yield Exchange is poised to revolutionize the way that organizations invest their funds and build relationships with their banking partners.
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