BNP Paribas is the latest banking giant to invest in AccessFintech, joining a previously announced Series C funding round for the capital markets specialist.
BNP Paribas joins the likes of JPMorgan, Goldman Sachs, Citi, Bank of America and BNY Mellon in backing AccessFintech, which is working to improve the capital markets operating model through data and workflow collaboration.
The French lender says the deal will enable it to provide its Corporate and Institutional Banking clients with the latest technology, data and workflow tools in a context of shortening
settlement cycles.
Clients will also be able to take advantage of AccessFintech’s Synergy data collaboration network, which helps market participants reduce collateral needs and compress transaction costs through data collaboration, accelerated workflows and a cloud-based approach to data governance and normalisation.
Bruno Campenon, global head, banks, brokers and corporates, Securities Services, BNP Paribas, says: "This investment is part of our strategy to partner with innovative technology companies to expand and digitalise our offering and give our clients access to the latest technologies.
"AccessFintech’s solutions will provide concrete benefits to our clients - and the industry as a whole - through greater operational efficiency and optimised risk management."