Baton Systems' Payments Solution Now Available In Oracle's Open Banking Platform

Baton Systems' 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.

Oracle industry solutions group senior financial services director Sanjay Mathew said: "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."

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 CEO and founder Arjun Jayaram said: "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."

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.

Source: Company Press Release