Temenos, the banking software maker, based in Geneva, announced today the integration of Taurus SA with Temenos Transact. The decision was taken following a thorough landscape review and evaluation process. This integration of Temenos Transact with Taurus – the Swiss digital asset and blockchain infrastructure fintech, will allow the banking software company to deliver simplified access to digital assets for its banking clients.
What is Temenos Transact?
Temenos Transact is a real-time, cloud-native core banking system that offers solutions for corporate banking, retail banking, and wealth management companies. It allows banks to increase operational efficiency and be flexible, most importantly, have a lighter technology system in place. It also allows them to monitor customer engagements, cross-sell, up-sell, and predict their customers’ needs to create a mark in the highly competitive industry.
What is Taurus SA?
Taurus SA is a Swiss digital asset and blockchain infrastructure fintech that provides a next-gen platform for trading, investing, and protecting digital assets. The company was recently licensed by FINMA, the Swiss Financial regulator, to operate the first independent regulated marketplace for digital assets.
The platform seeks to enable financial institutions to trade several assets, including private assets, tokenized securities, real estate,non-fungible tokens, art, and cryptocurrencies.
Why is this collaboration important for banks?
With this collaboration, banks will be able to bridge the gap between traditional investments and digital assets. They will be able to easily integrate and seamlessly manage any digital asset through Taurus’s full suite of products, including – Taurus-PROTECT – It is a hot, warm, cold custody solution that allows financial institutions to safely enter digital asset space, with its advanced security features, such as – banking-grade features and workflows required by regulators and institutional investors.
Taurus-EXPLORER – It is a SaaS-based blockchain communication infrastructure that allows financial institutions to scale their services easily and reliably transfer digital assets at a fraction of the cost to build.
Taurus-CAPITAL – It allows banks to tokenize and govern a host of digital assets as well as interact with Ethereum smart contracts.
All Taurus’s products leverage Taurus’ blockchain node infrastructure, Taurus-Explorer, which provides reliable broadcasting algorithms and unified API to the network securely with more than ten blockchain networks.
With Temenos and Taurus joining forces, banks will not just be able to provide custody to a wide range of digital assets but also further innovate by creating tokenized products using Taurus-CAPITAL and Taurus-PROTECT, depending on their business model and regulatory framework.