Residual’s unFederalReserve ($ersdl) project seeks intermediary-less platform for B2B overnight, cash management
NEWARK, NJ, October 15, 2020 /24-7PressRelease/ — Residual Token, Inc. has announced its selection of International Finance Enterprise Bank (IFEB) as it’s banker of choice. This continuing relationship, which includes mutual promises of support and cooperation around an array of digital banking programs, including Residual’s latest initiative focused on developing overnight solutions for B2B lender treasury management systems (www.unfederalreserve.com -or- $ersdl).
The relationship, which began in 2018, has proven to reach far beyond the initial goal of coordinated introductions of IFEB’s suite of international banking products, and Residual’s fintech architecture capabilities, and into the community through a range of shared interests.
“IFEB’s relationship with Residual isn’t about re-inventing the wheel —it’s about combining the strengths of our two teams to build a better, stronger banking presence in currently under-banked communities,” said IFEB Director & EVP, Richard Balles.
“Our selection of IFEB is based on shared values. The relationship has positively impacted both companies and the banking community,” said Residual owner Howard Krieger. “This relationship is a natural extension of our strong ties and mutual commitment to pursuing excellence and strengthening our client’s brand stickiness solutions. We look forward to continuing to work with IFEB and helping those in need.”
One newly announced initiative, eRSDL, is meant to help middle-market B2B lenders manage overnight excess cash and meet capital deficiencies. The intermediary-less platform will help middle market lenders put their cash to work overnight, offer an additional liquidity option to market makers, and capture efficiencies to the benefit of all consumers and businesses, alike.
Residual Token, Inc. is a business consulting and fintech solutions provider. They serve the global community’s growing need for advanced consumer finance technology, infrastructure and management. They are a global solutions provider leveraging local, boots on the ground technology, compliance and capital markets experts. Residual, Inc. is headquartered in New Jersey, USA with advisors and staff located in various cities around the world.(www.unfederalreserve.com)
IFEB is a licensed financial institution that caters to high net worth individuals, successful entrepreneurs and businesses who desire concierge services expected from a first-class private bank. Proud to serve a diverse client base from the U.S. mainland to foreign nationals and companies based overseas, IFEB provides you with flexibility when managing your finances. IFEB is a supervised, regulated financial institution licensed under Act 273 by the Office of the Commissioner of Financial Institutions of Puerto Rico (“OCIF”). While we are not FDIC insured, our regulators apply FDIC standards and we are required to comply with all US banking regulations, including the Bank Secrecy Act (KYC/AML) and all regulatory and compliance related requirements. (www.ifeb.bank)
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