Banking software provider Finnova and Wyden, a technology provider in institutional trading of digital assets, are joining forces to offer financial institutions a fully integrated solution for the trading and custody of digital assets.
Lenzburg/Zurich, 30 March 2023 – Finnova, a leading provider of banking software in Switzerland, and Wyden, a leading worldwide provider of institutional trading technology for digital assets, are becoming partners. The partnership between Finnova and Wyden enables banks to process digital asset trades and settlements via ecosystem partners. This is achieved as a result of the seamless integration into the Finnova core banking system and complete automation of the entire trading cycle. Finnova and Wyden can thereby offer an unprecedented degree of integration. The solution makes it easier for banks to set up and scale a digital asset banking strategy.
New possibilities for banks in trading with crypto assets
The Finnova community includes over 100 banks in Switzerland and the Principality of Liechtenstein. Finnova and Wyden provide these banks with the basis for launching their own offers for trading digital assets via E-Banking, Mobile Banking and the Advisor Workbench. Wyden’s crypto banking platform enables market-wide connectivity for secure trading with exchanges, brokers and OTC desks while minimizing counterparty, operational and market timing risks.
With the Finnova Standard API for crypto settlements, further ecosystem partners can be connected to the Finnova Banking Software in a standardised way. This underlines the continuous opening up of the Finnova Banking Software and the expansion of the Finnova ecosystem to innovative partners in the area of digital assets.
Industry-wide benchmark in automation and risk management
“Together with Wyden, we will take the industrialisation of digital asset processes to a new level, thereby enabling the entire Finnova community to position itself in the context of digital assets and to launch new offers on the market,” says Ante Plazibat, Head of PM Digital Assets at Finnova.
“With our software solution, we offer an unprecedented degree of process automation, risk management and integration in institutional crypto trading. The partnership between Wyden and Finnova is setting an industry-wide benchmark that drives forward institutional adoption,” explains Andy Flury, CEO of Wyden.
About Wyden
Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Wyden has offices in Zurich, New York and Singapore.
To learn more visit www.wyden.io.
About Finnova
Since 1974, Finnova has stood for innovative banking solutions –in development, in operation and in advisory. With the Finnova Banking Software, the Finnova Community can reap the benefits of a high-performance and reliable banking platform, which can be used end-to-end for various business models thanks to its wide range of functions, resulting in an attractive total cost of ownership. The Finnova platform is open to third-party applications, so that banks can differentiate themselves on the market in the era of digitalisation. Finnova also offers complete flexibility in choosing the most appropriate operating model for the bank, whether individual installation, multi-tenant installation or BPO services, supported by the selected operating partner. For more information about Finnova, please contact info@finnova.com or visit www.finnova.com.