This Week: Azentio, TriOptima, Equinix, TNS, and more

Azentio to acquire Path Solutions flagship products

Azentio Software, a software products business owned by funds advised by Apax, has agreed to acquire certain software assets from Path Solutions, a provider of core banking software. This includes the flagship products iMAL, iSHRAQ, Path Digital, and Path Analytics. This acquisition is aimed at strengthening Azentio’s banking portfolio by adding complimentary core banking software capabilities and a full spectrum of solutions focused on Islamic banks and financial institutions. Path Solutions has a footprint of more than 100 Islamic banks and financial institutions in over 40 countries across the world.

Path Solutions’ team of domain and technical specialists will further augment Azentio’s capabilities as it aims to become the leading BFSI software company across the Asia Pacific, the Middle East and Africa. Path Solutions will be supported by Azentio with increased investments in research and development, sales, and customer service to deliver value to its customers. Together with Azentio’s banking portfolio, comprising of lending, treasury, trade finance, and anti-money laundering solutions, this acquisition will provide an end-to-end integrated solution to banks in the region.

TriOptima now offering integration via Swift

TriOptima, an infrastructure service in OTC derivatives markets, now offers integration via Swift to the four main tri-party agents; BNY Mellon, Clearstream, Euroclear, and JP Morgan. TriOptima’s clients will have direct connectivity to tri-parties via Swift for sending instructions as well as receiving status messages and end-of-day reports.

With phase five of the Uncleared Margin Rules coming into effect in September, firms in scope will need to ensure they have the right infrastructure in place to exchange initial margin efficiently. This involves carrying out IM calculations, proactively monitoring their exposure, and integrating with tri-party agents.

ASEAN network to leverage Platform Equinix in Singapore

Equinix, a global colocation data center company, has announced that the ASEAN Financial Innovation Network will leverage Platform Equinix to accelerate financial services innovation in Singapore and the global fintech ecosystem. This collaboration will provide a dedicated on-premise API exchange sandbox platform on Platform Equinix for financial institutions.

TNS expands access to major Asian exchanges 

Transaction Network Services has expanded its low latency global backbone across the Asia Pacific region and now offers access to most Asian exchanges including major financial players such as Hong Kong Exchanges and Clearing, Singapore Exchange, and Japan Exchange Group. 

This expansion has been engineered to make use of the lowest-latency, commercially-available network links in the region. It employs subsea cable systems and protected network links to ensure the highest network uptime. The network has been designed with capacity to ensure delivery of streaming market data globally, with the ability to deliver APAC-sourced market data to the US, and US-sourced market data to APAC.

TNS’ Asia Pacific presence now offers extensive coverage across 11 countries and 23 exchanges in Asia.

Finastra to collaborate with Salt Edge for improved speed in compliance

Finastra has collaborated with Salt Edge to improve the speed of compliance with the Payments Service Directive 2 and other global open banking standards for banks and electronic money institutions worldwide. The integration of the Salt Edge Software-as-a-Service solution, open banking compliance, with Finastra’s core banking solutions, Fusion Essence and Fusion Equation, enables institutions to build the necessary architecture to support end-to-end banking requirements and compliance through one application programming interface. The integration is carried out via Finastra’s open development platform, FusionFabric.cloud.

BSO joins CryptoUK

BSO, a global infrastructure and connectivity provider, has joined CryptoUK, the UK’s self-regulatory trade association representing the crypto asset community.

BSO has gained traction in the world of institutional crypto and digital asset trading by developing an ultra-low latency cloud-to-cloud connectivity solution that provides speed, resilience and reach. It plans to share its expertise with fellow members and support the association’s advocacy efforts to communicate the value of this asset class for the financial services industry to key regulators and the wider public.

BSO also joined Innovate Finance, the independent industry body representing the global fintech community in the UK, earlier this year.