Sopra Steria brings solution to get started with the crypto-asset business

The Management and Technology Consulting Sopra Steria has completed a new white label platform with “Sopra Crypto Solutions”, which is intended to enable banks to get a significantly faster and non-standard entry into the crypto-asset market. The solution in particular addresses European financial institutions who are looking for marketable offers in the field of digital assets in view of growing customer demand and regulatory clarity.

DIe platform combines technologies of the providers Fireblocks (digital custody), chainalysis (compliance) and Wyden (trade management) and, according to company, meets the requirements of the EU regulations Mica and TFR. Banks should be able to integrate crypto services such as trade, administration and custody into their portfolio within six months-significantly faster than in its own development that often takes years. The core of the solution are API interfaces for existing bank infrastructures, a modular security and control system as well as compliance functions for automated transaction monitoring.

Sopra Crypto Solutions wants to enable banks to provide their customers so that they can realize the purchase, sale and management of crypto-assets. In addition to corresponding APIs, which are compatible with existing banking systems and a quick and seamless integration, the end-to-end platform solution also offers functionalities that should guarantee the security of the crypto-assets held by the bank, with the administration and control in the hands of the banks. In addition, tools are available for the simple configuration of offers, user groups, volume limits, available crypto-assets and fee policy as well as for optimization, monitoring and reporting of activities. Special dashboards should simplify transaction management for bank consultants and compliance officers.

With the entry into force of the European Mica regulatory framework, banks finally have a clear way to integrate crypto assets in a structured manner. Our offer fulfills a double requirement: securing payment flows and providing a maximum value for the end customer. The introduction of crypto currencies is a strategic lever to attract the young generation and to maintain competitiveness in the financial ecosystem of tomorrow: ”

GREGEATH WINTRED, CEO THE Group Vertical Financial Services at SOPRA STERIA

Increased demand from the banks for crypto-assets

According to a current one Forrester study on behalf of Sopra Steria Already invested 38 percent of European banks surveyed in crypto offers. In Germany it is 31 percent. The new platform is intended to help overcome regulatory and technical hurdles and to improve access to liquidity and user experience. Sopra Steria sees the introduction of digital assets as a strategic element in order to achieve younger target groups and to secure competitiveness in the financial sector in the long term.

Sopra Crypto Solutions enables banks to master two central challenges: to ensure the security and compliance of the transactions of its customers and at the same time offer a liquid and intuitive experience. Our solution was developed to meet the expectations of the market, and guarantees a secure management of digital assets, compliance with legal regulations as well as a simplified financial report and tax return. ”

Alexandre Eich Gozzi, Head of Product Management Financial Services at Sopra Steriatw