March 24, 2022 Joins Temenos Exchange to Offer Instant Cross Border Settlement, which is building a Financial Market Infrastructure (FMI) for the digital age to solve friction in cross-border settlements, today announced that it has joined Temenos Exchange, the open marketplace for fintech solutions.

As a result of the new relationship, Temenos banking customers will have easy access to the Liquidity Settlement System, which makes real-time, inter-bank settlement of wholesale FX possible on a PvP basis, in both developed and emerging market currencies.

The Liquidity Settlement System facilitates simultaneous transfers of liquidity (funds) in the traded currency pair. This is done point-to-point between banks, so there’s no need for an intermediary in the flow of funds. Interested banks are able to conduct a Proof-of-Value within a dedicated staging environment to test the system, ahead of formal trialling and becoming a live participant.

Temenos Exchange brings open innovation to market faster and at scale. The marketplace offers pre-integrated and approved fintech solutions that can be easily deployed on top of Temenos’s open platform — enabling banks to accelerate the creation of new financial services while reducing development costs.

Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetise new banking solutions. Joining Temenos Exchange means will be available to more than 3,000 clients in 150 countries. Collectively, this community serves the banking needs of 1.2 billion people worldwide.

Dave Sissens, CEO, “ was founded with the mission to reduce the cost and friction associated with cross-border payments and liquidity management. To be successful in this, we need to work in harmony with the existing financial processes of banks around the world. By partnering with Temenos, the world’s leading software provider for banks and financial institutions, we are ensuring that its community of banks can integrate with us easily, without disruption.”

“The challenges around cross-border settlement are well known, creating unnecessary cost and risk for banks all over the world. aims to make international cross-border transactions faster, more efficient and more secure. As such, we are pleased to be able to offer banks easy access to as part of Temenos Exchange. We hope it enables Temenos’s customers to realise an international payments system suited to the modern world.”


This article was originally published by Finextra. You can find it here
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