Geneva, 31 May 2018, Temenos (SIX: TEMN) today announces the launch of Cygnetise onto MarketPlace, its Authorised Signatory List management solution.
Cygnetise provides a blockchain based platform to help financial institutions create, maintain and distribute their Authorised Signatory Lists.
The digital platform enables users to alleviate the burden of managing all types of signatory lists (banking mandates, authorised trader lists, fund creation files), improving processes and enhancing the security and control of their data.
Cygnetise, a company established in 2016 in London, is the UK’s first enterprise blockchain application. Used by financial institutions of all sizes it brings significant operational efficiencies to corporate secretariat, treasury and operations teams in UK, Ireland, Luxembourg, Jersey, Guernsey, Cayman Islands, Hong Kong and Germany.
Stephen Pomfret, founder and CEO, said, “We are in a position to offer one of the first blockchain applications that is useful to all financial institutions and their clients. With its ease of adoption, it creates immediate cost savings, risk reduction and positively impacts the customer journey. Additionally, it doesn’t replace any legacy technology but simply automates the existing manual process.”
Ben Robinson, Chief Strategy Officer at Temenos, added,
“Our objective with the Temenos MarketPlace is not just to bring innovative solutions, but those that can bring real business value by addressing specific client needs. Cygnetise is a great example of this: it takes advantage of blockchain technology to massively streamline the management of authorized signatory lists which today is a real headache for banks, absorbing significant time and resources.”