Baton Systems has revealed its payments solution is now available in the Oracle Cloud Marketplace and Oracle Digital Innovation Platform for Open Banking for banks and financial institutions.
Baton provides payment services that allow firms to clear and settle all asset classes and currency transactions securely.
The post-trade platform works with ledgers of banks to execute business workflows over existing infrastructure and move real assets
Customers using Oracle Cloud Marketplace can find trusted business applications and service providers offering business solutions.
Sanjay Mathew, senior financial services director of industry solutions group at Oracle, commented: “By collaborating with Baton Systems on the Oracle Digital Innovation Platform for Open Banking, we are offering the global banking system a unique, cloud-based open application programming interface cross-border institutional payments solution to address the inefficiencies that persist in the arcane payments networks.”
“This sets the stage for a radical reduction in processing times that could reshape the world of payments in capital markets.”
Arjun Jayaram, CEO and founder of Baton, added: “Baton addresses the antiquated processes that persist in financial institutions for post-trade payments. Our relationship with Oracle is a major step forward in alleviating these pressing issues among many of the world’s largest institutions, accelerating payments globally on a secure and modern infrastructure.”
