LAS VEGAS, October 30, 2020 / PRNewswire / – Prime Trust, the leading B2B financial infrastructure and alternative asset custody and settlement platform, today announced the launch of PrimeCore – a proprietary core accounting and management platform Client Asset Management which offers banks, trust companies and financial technology firms a diverse range of services covering custody, payment processing, BSA compliance, asset liquidity and transaction settlement.
PrimeCore operates as a secure, cloud-based SaaS, fully accessible through application programming interfaces (APIs). From banks to stock exchanges. With real estate, crowdfunding, and crypto exchanges seeking to add custody of fractional assets, including cryptocurrency, real estate, and 18-decimal securities, the platform effortlessly scales to meet on demand and provide a personalized backend experience.
“We are seeing huge interest from banks and fintech innovators looking to enter the crypto space, but they ran into a roadblock once they realized that their legacy core systems like FIS, Fiserv and Jack Henry are not designed to meet the accuracy requirements of fractional or digital assets. As a result, they experience enormous amounts of drifts and operational nightmares, ”said Scott Purcell, CEO of Prime Trust. PrimeCore is uniquely designed to support these assets and allows B2B customers to integrate into their systems through APIs. It is a one-stop shop that solves the problems that institutions face when trying to launch next-generation services. . “
Prime Trust’s new core accounting and management system proved even more meaningful following the recent green light from the Office of the Comptroller of the Currency (OCC) to banks to provide cryptocurrency custody services to clients. As financial markets continue to move towards digital services and cryptocurrency adoption rates accelerate, banks and other service providers are recognizing that they must take advantage of new technologies in innovative ways to respond. by consumer demand and PrimeCore delivers on that promise.
“The fintech landscape has changed dramatically in recent years with the emergence of mobile neobanking applications, blockchain-based assets, and increased consumption of tech-driven financial products. We are seeing a strong need in the market for consumers – Peer payments, invest in crypto and fractional stocks, as well as debit cards tied to these app balances so they can spend them anywhere. where, “said Kevin Lehtiniitty, Managing Director of Prime Trust.” PrimeCore is the only financial infrastructure product designed to support all of these types of assets, transactions and compliance needs in one API package easy to integrate. We are expecting many new fintech platforms as well as giants looking to innovate and offer new additional features and services. to leverage PrimeCore for faster market access. “
To learn more about Prime Trust and the company’s new PrimeCore technology, please visit https://www.primetrust.com/primecore.
About Prime Trust
Prime Trust is the technology-driven financial institution that provides financial infrastructure to fintech innovators. The company powers mobile financial apps, crypto exchanges, stock exchanges, OTC desks, portals, platforms, brokers, investment advisers, exchanges, real estate syndicators and more with smart API solutions to create world-class financial services on a large scale. The services provided by Prime Trust include institutional and retail account types including custody, IRA, trust and escrow, as well as fund handling, AML and KYC compliance, custody of assets, counterparty settlement systems, transaction technology and tax reporting. For more information, visit www.primetrust.com.
SOURCE Prime Trust