Banking

Core banking vendor Temenos integrates with digital asset fintech Taurus

Temenos, the Swiss firm supplying more than 3,000 banks with core banking software, has integrated with digital asset-focused firm Taurus through Temenos Transact.

Temenos Transact is one of the company’s core products, covering retail, corporate, treasury, wealth, and payments channels.

A third of the firm’s customers use it, most recently including Eurobank, Philippine Bank of Communication, and Crédit du Maroc – the Morocco-based subsidiary of Crédit Agricole.

“Digital assets represent new opportunities for banks”.

Now, with its new integration partner Taurus receiving a securities firm licence from the Swiss Financial Market Supervisory Authority (FINMA), it can provide these banks with easier access to digital assets.

Temenos competitor Fiserv currently offers ‘Titan’ to help with digital asset management. Whilst earlier this month, FIS partnered with NYDIG, a cryptocurrency asset management and digital custody company.

Taurus claims to operate the world’s first independent, regulated marketplace for digital assets. The marketplace covers traditional securities, cash, or digital assets, as well as staking – otherwise known as transaction validation on the blockchain.

“Digital assets represent new opportunities for banks and wealth managers,” says Alexandre Duret, Temenos’ product director.

“Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio.

“By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”

Banks can access Taurus’ capabilities through the ‘Temenos MarketPlace’. Its offering is divided into three – tokenisation and lifecycle management, digital assets custody, and API-based blockchain connectivity.

Read more: Curo Fund Services goes live on Temenos accounting platform


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