BNP Paribas has become the latest banking institution to invest in AccessFintech, contributing to an already announced Series C funding round for the capital markets specialist.
The French lender joins notable firms such as JPMorgan, Goldman Sachs, Citi, Bank of America, and BNY Mellon in supporting AccessFintech, which aims to enhance the capital markets operating model through improved data and workflow collaboration.
This partnership will enable BNP Paribas to offer its Corporate and Institutional Banking clients advanced technology, data, and workflow tools, particularly as settlement cycles continue to shorten.
Clients will also benefit from AccessFintech’s Synergy data collaboration network, which assists market participants in reducing collateral requirements and lowering transaction costs via data collaboration, streamlined workflows, and a cloud-based approach to data governance and normalization.
Bruno Campenon, global head of banks, brokers, and corporates at Securities Services, BNP Paribas, stated: “This investment aligns with our strategy to collaborate with innovative technology companies, allowing us to expand and digitalize our offerings while providing our clients with access to the latest technologies.”
He added, “AccessFintech’s solutions will deliver tangible advantages to our clients and the industry by enhancing operational efficiency and optimizing risk management.”