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Industry roundup: 19 July

Profile Software treasury platform promises full automation

Profile Software has announced the new version of its treasury platform Acumen.plus. The real-time cloud-native platform aims to deliver an advanced user experience and automation to treasurers around the world.

The platform was developed to enable users to check and validate mass deals’ imports using real-time APIs. It offers functions for bulk uploads, allowing a secure and easy monitoring of the process. Users can inspect and authorise uploaded deals, before actual creation in the system, which should eliminate errors and ensure quality of data.

A quick input facility is also available, for money market, bond and foreign exchange (FX) spot deals. The firm says that when deals are not executed in external trading platforms or systems but agreed non-electronically, treasurers may still easily manually input them by entering only the key values in a special command line, which should saving time for more added value activities.

Acumen.plus also delivers flexibility to easily configure screens within the application and mask unused fields. It enables personalisation and allows the user to work on familiar screens used in other applications focusing on the information that is relevant to them, while accommodating the bank’s specific workflows for any deal type.

All analyses can be accessed directly through dashboards and shortcuts can be user-specific. Treasury reporting has been enhanced to offer on-demand charts and dashboards. Template reports and dashboards are available for holistic and real-time views of activities in different areas, with a focus on specific tasks or instruments where needed.

 

Intellabridge announces blockchain-based corporate treasury accounts

Intellabridge Technology Corporation, a blockchain technology company, has announced plans to launch Kash Corporate Treasury Accounts for businesses and institutional investors. The accounts are designed to provide businesses and institutions with high-interest and fixed rate certificates of deposit (CD) based on blockchain decentralised financial markets. The company says that the Kash Treasury CDs will be one of the first products on the market allowing customers to earn a stable 10% on deposits, and provide an alternative solution to the current low-interest rate CD market.

"With the CD market balances hitting record lows of US$1.42 trillion, we believe we can provide a good alternative interest rate market for CDs," said John Eagleton, CEO of Intellabridge.

Intellabridge is also aiming to solve the problem of operational complexities for treasury customers with automated US dollar to stablecoin conversions, private-key management, enhanced cybersecurity, customer service, and traditional banking integration capabilities.

The company is intending to roll-out Kash Treasury starting in late Q3 2021. Features of the Kash Treasury programme will be introduced to beta testers throughout the rest of 2021.

 

Circle's Bermuda expansion targets treasury demand for yield

Circle, a global financial technology and payments firm, has announced it will increase operations in Bermuda as part of the company's overall market expansion strategy and to support corporate treasury demand for yield. The Bermuda Monetary Authority (BMA) recently expanded oversight of Circle's Class F ("Full") DABA license to include Circle Yield, a new high yield offering that represents an expansion of Circle's products.

Circle's expanded operations and support in Bermuda will include key new hires, including in compliance, operations, and service, which will support activities regulated in Bermuda and Circle's growth around the world. It will also make an initial investment of US$100,000 supporting skills and talent development in fintech and digital assets for workers in Bermuda

During this early access period, Circle Yield will be limited to US, Bermuda, or Swiss-based companies and institutional investors and the company says it will continue working collaboratively with the BMA and the Government of Bermuda to ensure ongoing responsible financial services innovation serving institutional customers from a competitive Bermuda-based regulatory platform.

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