Israeli startup heralded for its unique “correspondent-banking-in-a-box” service
Tel Aviv, 27 July 2022: TenureX, the Israeli start-up that is fixing the broken correspondent banking industry, has been recognised as one of the world’s leading fintechs by influential market intelligence firm Aite-Novarica Group.
TenureX is changing the face of correspondent banking with a new, platform-based approach that provides “correspondent banking in a box”. The company’s cloud-based digital platform comprises a set of innovative solutions that embed end-to-end payments data and compliance rules into every transaction. The TenureX platform makes it easy for any financial institution to grow their correspondent relationships, expand into new markets, roll out international settlements, and deploy new payment flows – quickly, cost-effectively, and compliantly.
Now, TenureX has been featured in Aite Group’s latest Commercial Banking Fintech Spotlight: Q2 2022, which examines vendors who are revolutionizing the financial services industry through “as-a-Service” platforms. The report recognises the need for new commercial banking capabilities and examines five global fintechs that are harnessing automation to improve efficiency, FI-to-FI relationships, and the customer experience.
Responding to the report, TenureX Co-Founder & COO Or Kapelinsky, said, “For TenureX to be included in such an influential report is a fantastic reward for our team’s hard work, but it’s just as important for the correspondent banking industry itself. When we founded TenureX in 2020, we had a simple mission: to fix an industry in decline by sweeping away legacy technology which provided no transparency and visibility into cross-border payments, and preventing financial institutions from accessing the data they need to make intelligent, strategic and compliant decisions.
“We’re delighted that Aite Group has identified our unique approach to these challenges through our Correspondent Banking as a Service (“Correspondent banking in a box”), while also recognising that our core product – the DTC(™) (Digital Transaction Certificate) – brings unique technological and innovation in this market. The report is required reading for any financial institution seeking to strengthen its relationships with other banks and FIs, revolutionize cross-border payments, and eliminate cost and complexity for compliance teams.”
The full report is available for purchase here