Baton Systems launches automated settlement orchestration platform
02 October 2023 UK
Image: Dmitry/stock.adobe.com
Fintech Baton Systems has launched Core-Payments, an automated settlement orchestration platform.
Core-Payments automatically tracks and reconciles inbound cash settlements, granting clients automated, comprehensive and real-time control. Outbound cash payments can be set to release on a particular basis, with consideration to configurable rules and real-time data.
Using distributed ledger technology, the platform reduces manual intervention across reconciliation and control processes, accelerates key function completion and reduces operational costs, Baton Systems says. Additionally, clients benefit from continual calculations of counterparty settlement risk exposure and both current and forecasted funding requirements.
Modules of the platform include visualisation, netting and pre-settlement affirmation, controlled settlement and analytics, all available through a set of user interfaces. APIs and integration protocols are used for data inflow and outflow.
The platform has been developed in advance of T+1 implementation in the US and Canada in May 2024.
Alex Knight, head of EMEA for Baton Systems, says: “With the transition to T+1 just months away, and with regulators growing increasingly vocal around the need for greater settlement control and supervision, it is paramount that market participants ensure they are fully prepared to cope with any rise in settlement risk.
“Legacy processes for monitoring and managing settlement risk have stifled industry progress. Adopting solutions like Core-Payments is a pragmatic first step in helping firms manage risk, operate more efficiently, lower costs, increase their counterparty footprint, meet growing regulatory requirements and provide excellent customer service.”
Core-Payments automatically tracks and reconciles inbound cash settlements, granting clients automated, comprehensive and real-time control. Outbound cash payments can be set to release on a particular basis, with consideration to configurable rules and real-time data.
Using distributed ledger technology, the platform reduces manual intervention across reconciliation and control processes, accelerates key function completion and reduces operational costs, Baton Systems says. Additionally, clients benefit from continual calculations of counterparty settlement risk exposure and both current and forecasted funding requirements.
Modules of the platform include visualisation, netting and pre-settlement affirmation, controlled settlement and analytics, all available through a set of user interfaces. APIs and integration protocols are used for data inflow and outflow.
The platform has been developed in advance of T+1 implementation in the US and Canada in May 2024.
Alex Knight, head of EMEA for Baton Systems, says: “With the transition to T+1 just months away, and with regulators growing increasingly vocal around the need for greater settlement control and supervision, it is paramount that market participants ensure they are fully prepared to cope with any rise in settlement risk.
“Legacy processes for monitoring and managing settlement risk have stifled industry progress. Adopting solutions like Core-Payments is a pragmatic first step in helping firms manage risk, operate more efficiently, lower costs, increase their counterparty footprint, meet growing regulatory requirements and provide excellent customer service.”
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