Fremont, CA; May 20, 2020 — Baton Systems (“Baton”), a provider of post-trade solutions for capital markets, today announced it has joined the U.S. Faster Payments Council (FPC), an organization devoted to advancing faster payments in the United States. As a member of the FPC, Baton will act as a voting member in the Technology Providers segment on inclusive and collaborative approaches to issues that stand in the way of achieving faster payments.
Historically, institutional payments have been hindered by lengthy payments and settlement processing times and legacy systems. Baton is working with banks and systemically important payments hubs to accelerate the movement of assets between counterparties through a rules-driven engine. Baton enables on-demand settlement and payments – in minutes instead of days, regardless of currency or asset class. With multiple top ten global banks and large central counterparties fully deployed and live, Baton’s platform settles over $13 billion per day.
“The FPC is a unique organization that encourages a diverse range of perspectives from all stakeholders in the U.S. payment system to resolve the issues that inhibit broad adoption of faster payments,” said FPC Executive Director Reed Luhtanen. “We are excited to have Baton onboard and to benefit from their expertise in accelerating payments in the world’s largest financial markets.”
“Baton’s mission is to solve disparities between fragmented banking systems and reduce the burden of capital and operational inefficiencies that slow payments,” said Arjun Jayaram, CEO and Founder of Baton. “We are looking forward to collaborating with our fellow FPC members and sharing our insights, with the common goal of driving the adoption of faster payment solutions.”
In addition to accelerating institutional payments, Baton’s automated solutions help address the challenges of reducing settlement risk and increasing liquidity. Baton currently has offices in Fremont, CA, New York, London, and India, with future plans to expand into Singapore.
Baton Systems is reforming how payments are made in the world’s largest financial markets. By delivering on-demand synchronization and orchestration of asset movements through its distributed ledger-based platform, it is liberating balance sheets and eliminating the need for capital-intensive pre-funding of FX and margin requirements. Founded in 2016 by technology, payments and capital markets veterans, and backed by venture capital, Baton Systems works with numerous market participants – including major global banks, custodian banks and exchanges – to meet today’s demands for capital efficiency, regulatory compliance and operational superiority. Find out more at www.batonsystems.com.
About the U.S. Faster Payments Council (FPC)
The FPC is an industry-led membership organization whose mission is to facilitate a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility, and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit FasterPaymentsCouncil.org.
Paragon Public Relations