Crealogix integrates crypto assets into digital banking hub

Source: Crealogix

Digital banking innovator CREALOGIX today announced the launch of CREALOGIX Invest Crypto which adds cryptocurrency and blockchain market data to its CREALOGIX Digital Banking Hub.

It is the first time that financial services firms can integrate crypto assets into solutions, including basic transactional capabilities if these assets are held on exchanges.

The CREALOGIX Digital Banking Hub is a scalable, secure and highly modular software solution which enables banks and financial services to implement digital banking strategies effectively, quickly and cost-effectively. CREALOGIX’s goal is to give customers access to view their total wealth, regardless of location, state or asset type. With the Crypto module, that view includes cryptocurrency assets too.

The platform also provides an Invest Crypto Alexa Skill for customers, an extension for Amazon Alexa-compatible devices which allows the use of voice commands to request information such as prices and balances, as well as the potential to execute trades.

Anton Zdziebczok, Product Director at CREALOGIX UK said: “Cryptocurrencies and blockchain technology have enjoyed a surge in popularity over the past year, but banks are still facing major stumbling blocks in accessing the data and offering their customers a view of their crypto assets on one platform. CREALOGIX Invest Crypto allows banks an easy integration for cryptocurrencies and blockchains, responding to customer demand.”

“Open Banking is all about making it easier for customers to manage their finances with an holistic view and it’s time that cryptocurrencies and token assets are part of that.”

Existing CREALOGIX customers, can enjoy a seamless transition into cryptocurrency trading with their existing API. For banks and fintech firms who aren’t currently using existing CREALOGIX products, CREALOGIX Invest Crypto can be utilised as a stand-alone product, providing the advantage of significant time and manpower savings compared to developing an in-house application.

Leading financial institutions and figures are already starting to acknowledge the potential of crypto assets. In a ground-breaking move in March, Barclays announced its partnership deal with Coinbase which gave the popular crypto exchange access to its Faster Payments Scheme in the UK. This was shortly after getting FCA approval from UK regulators for its e-money license, marking the first partnership of its kind in the country. Later that month, the UK Chancellor of Exchequer also announced a crypto assets ‘task force’ which would help explore the benefits of crypto assets.

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