Baymarkets Separates into Two Independent Firms

Swedish Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm Baymarkets Technology AB (Baymarkets) today announced that it has separated its current business into two independent companies - Reg&Tech Solutions AB (Reg&Tech) and Baymarkets AS.

Three previous founders of Baymarkets along with Reg&Tech’s CEO Per Andersson has created the new company Reg&Tech Solutions AB amid separation form Baymarkets. The firm will continue to deliver its solutions in Big Data automation. Its products address the regulatory challenges faced by financial institutions around the globe.

Per Andersson, CEO of Reg&Tech Solutions commented: “The financial markets are rapidly becoming fully electronic, driven by regulations and new enabling technologies.”

Last year, Baymarkets introduced a new Reg&Tech market solution, called Clarity, aiming at banks, brokers, and exchanges. It was introduced to address a number of different regulatory challenges amidst an increasing demand for automated workflows. Moreover, the solution also helps shore up pre and post-trade Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term across all of the trade lifecycle.

“There is a strong demand for solutions and platforms that automate and streamline the business processes to comply with these new regulations as well as to increase operational efficiency,” Andersson added.

The second company, Baymarkets AS will be led by Tore Klevenberg as its CEO and Peter Fredriksson as Chairman. The firm will continue to provide FinTech solutions to marketplaces and clearing houses and like before, the products will be based on Clara clearing platform.

“I’m looking forward to this new phase in the development of Baymarkets’ clearing and marketplace offering,” Klevenberg said. “The Clara platform has proven to be very efficient at addressing all the demands of a modern clearing solution.”