TenureX, a startup in correspondent banking, has teamed up with TM Group, a firm that manages and integrates technology, to democratize correspondent banking in the Nordic region.
According to a news release, TenureX will receive solutions and services from TM Group to support the growth of correspondent banking services and the compliance and productivity of the Nordic banking industry.
With its latest partnership with TM Group, TenureX—which offers a platform for correspondent banking as a service—marks a significant turning point in the company’s international objectives. A skilled technology and market specialist with a focus on the Nordics, one of the most forward-thinking regions for correspondent banking services, has been engaged by TenureX, according to a news release.
TenureX and TM Group will continue to cooperate to discover solutions to the “structural difficulties inside the correspondent banking services” and to further their “shared vision of customer-first and hands-on approach.”
TenureX is an Israeli company with its headquarters in Tel Aviv. It was created in 2020 by banking sector veterans CEO Izhar Arieli, CTO Ben-Yaniv Chechik, Chief Operating Officer Or Kapelinsky, and Chief Product Officer Eyal Azulay. According to the press announcement, the firm recognized that the dependence on antiquated technology led to poorly performed cross-border transfers and that data couldn’t be used to make strategic, compliance choices.
According to Kapelinsky’s statement in the release, “Technology is crucial to reviving the correspondent banking industry by bringing full data visibility and a unified pre-agreed set of compliance rules to every party. But it also needs a dedicated specialist who knows to speak the local language and understand the specific needs of unique banking sectors and regions.
“We could not ask for a better fit than TM Group,” Kapelinsky continued. “Partnering with professional technology and solutions integrators in the Nordics, such as TM Group, offers a key layer of local understanding and customer service that TenureX could not deliver.
