Today, Enigio AB announced that its digital original documents solution, trace:original, is now accessible on Temenos Exchange. This integration allows banks and corporates to transition to a completely paperless operation for all their trade documents.
The trace:original system facilitates the complete digital transformation of global trade documents and data. This enhances the speed, cost-effectiveness, security, and environmental sustainability of trade. It is crafted to adhere to existing laws and aligns with the UNCITRAL Model Law on Electronic Transferable Records (MLETR).
For Temenos customers, this integration means they can generate and manage trace:original documents directly within the Temenos Transact application, eliminating the need for additional applications. This offers a more streamlined and improved customer experience, pushing the boundaries of digitalisation.
The solution is applicable for various documents such as bank guarantees, promissory notes, bills of exchange, bills of lading, and warehouse receipts.
Temenos Exchange is known for its ability to rapidly introduce innovative solutions to the market on a large scale. The ecosystem provides a range of pre-integrated and verified fintech solutions that can be effortlessly implemented on Temenos’ open platform for composable banking. This enables banks to expedite the development of new financial services while also cutting down on development costs.
Martin Bailey, Director of Innovation and Ecosystems, Temenos, said, “Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions. The integration with Temenos and joining Temenos Exchange means Enigio’s trace:original solution can be readily available to the thousands of banks globally that run on our platform.”
Patrik Zekkar, CEO of Enigio said, “With this possibility to create and manage electronic trade instruments, Temenos customers will have robust, unconditional, and independent digital assets that improve working capital and earnings, deliver financing flexibility, and provide better access to liquidity for SMEs and corporates. Additionally, the use of structured data enables straight-through-processing for all parties, delivering transformative benefits for any business and solving the paper paradox once and for all.”
“Enigio’s trace:original availability on Temenos Exchange further extends our commitment to the banking community and enables Temenos customers to easily reap the benefits of trace:original. We look forward to leveraging the power of the Temenos platform to help us achieve our business goals.”
