VentureIsrael News

TenureX is live and completes first transactions

Portfolio Companies
The platform is processing transactions every day between ten early adopters who contributed to its development. The company has set up a waiting list to expand the network of participants, especially financial institutions looking for new correspondent banking relationships. 

The trillion-dollar correspondent banking market relies on subjective relationships between banks and access to transaction data which only becomes available after the transaction takes place. Managing these relationships involves costly, manual, and time-consuming compliance activities. Correspondent banking relationships usually end, negatively with de-risking as every new relationship increases complexity, counterparty risk and involves many unpredicted outcomes. 

TenureX's platform gathers transaction data and adds it to a unified view we call a Digital Transaction Certificate which lets users create correspondent banking relationships and manage individual transactions. This enables growth, as customers now operate on a new model of relationships which de-risks transactions rather than institutions.

Ultimately, users attract more business, improve efficiency, predictability, and transparency and maintain complete control over the money flow, while minimizing operational and compliance risk.

TenureX is collaborating with Google Cloud and developed a secured and trusted cloud service that eliminates the existing constraints of corresponding banking and relationship management between FI's. With TenureX, counterparties can cooperate seamlessly and confidently, one transaction at a time over a controlled, secured, and compliant network.