TEMENOS
17.5.2021 08:32:05 CEST | Business Wire | Press release
Temenos (SIX: TEMN), the banking software company, today announced the integration of Taurus SA (“Taurus”), the Swiss digital asset and blockchain infrastructure fintech, with Temenos Transact, the next generation core banking software. Following a thorough landscape review and evaluation process, Temenos selected Taurus as a partner to deliver simplified access to digital assets for its banking clients.
Taurus recently received a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) to operate the first independent regulated marketplace for digital assets in the world. The fintech is uniquely able to cover cryptocurrencies including Staking and Decentralized Finance (DeFi), any type of tokenized assets on any standard including issuance and full-lifecycle management, and digital currencies - all within the same platform.
Alexandre Duret, Product Director at Temenos, said: “We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio. But other applications of blockchain technology, such as tokenized securities have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”
Taurus’ technology is available to Temenos’ clients through Temenos MarketPlace, a curated community of best-in-class fintech solutions that complement Temenos software. Taurus brings the capability to integrate and seamlessly manage any digital asset, whether traditional securities, cash or digital assets, through its full suite of products: Taurus-CAPITAL (tokenization and lifecycle management), Taurus-PROTECT (hot, warm, cold digital asset custody), and Taurus-EXPLORER (API-based blockchain connectivity to more than 10 blockchain protocols).
This collaboration allows banks to not only provide custody to a wide range of digital assets but also further innovate by creating tokenized products of their choice. Depending on their business model and regulatory framework, banks will also be able to create, manage and service a wide range of tokenized assets leveraging Taurus-CAPITAL and Taurus-PROTECT functionalities.
Sébastien Dessimoz, Managing Partner at Taurus, added: “Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide. Taurus end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks.”
Temenos MarketPlace is a partner ecosystem of over 50 best-in-class fintech solutions, enabling Temenos' clients to innovate fast, differentiate, and ultimately deliver a better banking experience for customers. MarketPlace solutions are pre-integrated for rapid implementation and time-to-value.
Register for TCF Online 2021 to learn more about Temenos MarketPlace. TCF Online is a free to attend virtual event that brings the key announcements, customer insights and latest software demonstrations from Temenos.
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About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com .
About Taurus SA
Taurus SA was founded in April 2018 in Geneva, Switzerland, specialising in digital assets and blockchain. Taurus was founded by senior executives with a background in banking, regulatory, IT and cyber security. Taurus offers enterprise-grade market infrastructure solutions for digital assets as well as other financial services to its clients. It is a leader in Europe and Switzerland. Taurus solutions are in production and entrusted with the full spectrum of banks: systemic banks, investment banks, private banks, retail/digital banks, crypto-banks, trading venues. At the time of writing, more than one bank out of two that has entered the space in Switzerland run on Taurus.
For more information, please visit www.taurushq.com .
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