London, United Kingdom (PressExposure) September 25, 2009 -- Offshore Banking International (OBI) reached a new company record by opening a branch office in the Cayman Islands, adding to their roster of banking centers and expanding their presence to 21 locations.
"We started OBI with the goal of highlighting the world's lesser known offshore banking capitals," said OBI Richard Collins. "But the Cayman Islands continue to be one of the offshore banking world's most popular destinations, and we want to give our clients every possible option for their investment portfolios."
OBI is familiar with Caribbean offshore banking centers, but only added the Caymans to the roster recently.
Collins said he was most impressed by the efficiency of the Cayman Islands banking community.
"I've enjoyed developing relationships with our Pacific-based offshore jurisdictions and working through the process," Collins said. "But the Caymans have it down to an art - our clients can complete the offshore registration process in 24 hours."
He noted that offshore banking has a reputation of being the provenance of the wealthy, but with the changing economic times, even people with modest and mid level incomes have become interested in diversifying their savings over various jurisdictions.
Many people, he said, want the same level of service provided by their neighborhood bank, while spreading their capital to different accounts.
"The truth is that the local American banking system does not inspire the same level of international confidence that it used to," Collins said.
OBI has set up the new branch so that it is easily accessible to new depositors.
"The technology is in place that will allow many people to manage their offshore banking from the privacy of their own home," Collins said. "With everything from document verification to electronic deposits becoming more automated and fraud-savvy, we're able to offer our clients a wide array of services safely and securely."
Collins said that he is looking forward to continually expand OBI to meet a growing customer demand in order to "put OBI at the forefront of offshore banking,"