Battle Monetary has chosen Temenos’ Banking Cloud answer to underpin the worldwide markets tech stack for its new branchless, digital-first providing Battle Financial institution.
Temenos’ platform for composable banking will function the muse for Battle Financial institution’s overseas forex, market index and treasured metals merchandise.
Battle Financial institution intends to supply Federal Deposit Insurance coverage Company (FDIC) insured overseas forex alternatives in addition to market index deposits and the flexibility to amass, retailer and borrow towards non-FDIC insured treasured metals.
Battle Monetary president and board member Frank Trotter says the Temenos partnership will present Battle Financial institution with “quick, open and scalable” expertise to offer a streamlined buyer expertise.
“We’ve created Battle Financial institution to fill a widening hole within the conventional banking panorama — to supply high-yield curiosity accounts coupled with entry to the world markets,” Trotter provides.
The US challenger is anticipated to launch within the second half of this yr and is actively searching for its nationwide banking constitution.
Temenos has accomplished a string of offers over the previous yr. One of many newest noticed the seller signal a take care of present person, Rakuten Europe Bank, for its cloud banking providing.