Securities finance industry news | BNP Paribas takes part in Series C funding round for AccessFintech

BNP Paribas is to take part in a Series C fund round for AccessFintech, the fintech organization headed by Roy Saadon.

The expenditure is staying created by BNP Paribas’s Securities Companies device, the bank’s put up-trade arm.

The Paris-primarily based banking team indicates that this investment will empower it to present its corporate and institutional banking shoppers with the hottest technological know-how, information and workflow equipment in an effort to shorten settlement cycles.

Clientele will also be able to boost operational performance via AccessFintech’s Synergy details collaboration network, BNP Paribas says.

Synergy will help industry individuals cut down collateral demands and compress transaction
costs as a result of data collaboration, accelerated workflows and AccessFintech’s cloud-centered strategy to info governance and normalisation.

Synergy also helps world-wide financial institutions, broker-sellers, custodians, asset professionals and hedge funds with regulatory compliance through mutually managed network alternatives.

The Sequence C funding spherical was led by WestCap. In addition to its Series B fundraising led by Dawn Capital, AccessFintech has now secured investment decision from the world’s biggest economical establishments like JPMorgan, Goldman Sachs, Citi, Bank of The us and BNY Mellon.

Alongside these investors, BNP Paribas’s participation will be utilized to accelerate AccessFintech’s advancement as it expands its collaborative knowledge administration community to additional markets.

Bruno Campenon, world wide head of banking companies, brokers and corporates of Securities Products and services, at BNP Paribas, states: “This investment is element of our technique to partner with modern know-how companies to broaden and digitalise our featuring and give our shoppers accessibility to the hottest systems.

“AccessFintech’s methods will deliver concrete added benefits to our purchasers – and the sector as a full – through greater operational efficiency and optimised hazard management. We are enthusiastic to participate in this initiative and enable the financial industry evolve its running model.”

Roy Saadon, CEO of AccessFintech, opinions: “We are delighted with the aid BNP
Paribas is extending to the vital purpose we provide of trusted knowledge governance infrastructure.

“The innovation we are offering in the facts collaboration arena is a great enhance to BNP Paribas’s force to generate the sector ahead. Their knowing of disruptive technological know-how, coupled with our shared eyesight, will permit AccessFintech to grow and execute the next stage of our progress.”

Rachel Pence

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