FREMONT, Calif., March 14, 2018 /PRNewswire/ -- Baton Systems ("Baton"), one of the industry's fastest, on-demand platforms for clearing, settling and managing payments between financial institutions in capital markets and a Silver level member of Oracle PartnerNetwork (OPN), today announced that its high-speed 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 and on-demand. Its post-trade platform works with the core ledgers of banks to easily execute business workflows over existing infrastructure and move real assets faster and more cheaply between participants. As a result, customers can be up and running in days instead of months.
"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 API 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," said Sanjay Mathew, Senior Financial Services Director of Industry Solutions Group at Oracle.
The Oracle Cloud Marketplace is a one-stop shop for Oracle customers seeking trusted business applications and service providers offering unique business solutions, including ones that extend Oracle Cloud Applications. Oracle Cloud is the industry's broadest and most complete public cloud, delivering enterprise-grade services at every level of the cloud technology stack including software as a service (SaaS), platform as a service (PaaS), infrastructure as a service (IaaS), and data as a service (DaaS).
"Baton addresses the antiquated processes that persist in financial institutions for post-trade payments," said Arjun Jayaram, CEO and founder of Baton. "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."
The Oracle Cloud Marketplace offers an intuitive user interface to browse and search for available applications and services, as well as user ratings and reviews to help customers determine the best business solutions for their organization. With its new automated application installation features, customers can easily deploy provider business applications from a centralized cloud interface.
Oracle's open banking platform includes lending, portfolio analytics, retail payments, card management solutions, credit risk scoring, machine learning, and biometrics solutions from leading global fintechs.
About Baton Systems
Baton Systems delivers advanced technology solutions, bringing a new level of speed, efficiency and accuracy for financial institutions to clear, settle and manage payments. Founded in 2016 by industry veterans in technology, payments and capital markets, and backed by venture capital, Baton Systems works with numerous market participants – including major global banks, custodian banks and exchanges – to meet today's demands for cost savings, regulatory requirements and better capital management. For more information, please visit https://www.batonsystems.com/
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle's partner program that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions. OPN offers resources to train and support specialized knowledge of Oracle's products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to be recognized and rewarded for their investment in Oracle Cloud. Partners engaging with Oracle will be able to differentiate their Oracle Cloud expertise and success with customers through the OPN Cloud program – an innovative program that complements existing OPN program levels with tiers of recognition and progressive benefits for partners working with Oracle Cloud. To find out more visit: http://www.oracle.com/partners.
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SOURCE Baton Systems