Banking.Systems® introduces PRAXIS Technology Escrow

Banking.Systems® is working with PRAXIS to provide dynamic Technology Escrow Solutions to it's customers.

PANAMA CITY, PANAMA, PANAMA, February 5, 2019 /EINPresswire.com/ -- February 5th, 2019 -- PRAXIS Technology Escrow is now available for provision and maintenance of a scalable escrow account solution. Banking.Systems® has worked with PRAXIS Technology Escrow to create a standardized technology escrow solution that will house all relevant technological information for the installed Online Banking System including the software source code and DB structure, as well as any supporting documentation. The standard Banking.Systems® / PRAXIS Escrow Agreement will allow customer access to the escrow materials in the event that the company ceases operations or winds down its business.

Typically, the customer bears the cost of the escrow account. Banking.Systems® customers have special fees with PRAXIS for the account set-up which include drafting of the escrow agreement and deposit of the digital assets into the account. There is a cost-effective annual fee to maintain the account and the account can be closed at any time upon customer’s instruction. Banking.Systems® reviewed multiple escrow vendors and determined that PRAXIS provided a highly secure and robust platform that had the flexibility to adapt to the specific requirements of providing escrow for Banking.Systems® technology while being affordable for the customer.

About NexorONE®
NexorONE® is the leading Online Banking Software Solution™. With its robust modular scalability and wide array of features, it serves a broad variety of financial entities such as Online and Private Banks, Credit Unions, eWallets, Trusts & Asset Management Companies, and Payment Platforms. NexorONE® has been deployed to more than 300 financial entities worldwide, spread throughout 40 countries and in 16 languages. Features include a customizable responsive interface, user groups and admin roles, compliance rules (KYC, AML, etc.), API's and continuous updates. Please visit Banking.Systems and NexorONE.

About PRAXIS
PRAXIS Technology Escrow is an independent third-party that protects mission-critical software applications by providing end-users with conditional access to technology, data and/or source code to allow end-users to continue use of applications even in the event of software vendor failure or bankruptcy. The PRAXIS team has over 20 years of experience in the software and technology escrow industry and is most recently known for automating the escrow updating process by connecting directly to source code archival systems like GitHub, BitBucket, Microsoft TFS and more to dramatically improve the quality of escrow deposit material. For more information, visit: https://www.praxisescrow.com

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