London, 9 January 2023. BNP Paribas announces a strategic investment in AccessFintech, a leading fintech company evolving the capital markets’ operating model through data and workflow collaboration.
The investment is being made by BNP Paribas’s Securities Services unit, the bank’s post-trade arm. It will enable BNP Paribas 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 enhance operational efficiency thanks to the use of AccessFintech’s Synergy data collaboration network.
Synergy helps market participants reduce collateral needs and compress transaction costs through data collaboration, accelerated workflows and AccessFintech’s cloud-based approach to data governance and normalisation. Furthermore, Synergy helps organisations meet regulatory requirements through mutually managed network solutions. Synergy services the leading global banks and broker-dealers, custodians, asset managers and hedge funds.
The Series C funding round was led by WestCap. In addition to its Series B fundraising led by Dawn Capital, AccessFintech has now secured investment from the world’s largest financial institutions including JPMorgan, Goldman Sachs, Citi, Bank of America and BNY Mellon. Alongside these investors, BNP Paribas’s participation will be used to accelerate AccessFintech’s growth as it expands its collaborative data management network to additional markets.
Bruno Campenon, Global Head of Banks, Brokers and Corporates, Securities Services, at BNP Paribas, said: “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. We are excited to participate in this initiative and help the financial industry evolve its operating model.”
Roy Saadon, CEO of AccessFintech said: “We are delighted with the support BNP Paribas is extending to the critical role we provide of trusted data governance infrastructure. The innovation we are delivering in the data collaboration arena is a great complement to BNP Paribas’s push to drive the market forward. Their understanding of disruptive technology, coupled with our shared vision, will enable AccessFintech to grow and execute the next stage of our development.”
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About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’s Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
AccessFintech enables improved data sharing and workflow collaboration to evolve the financial industry’s operating model. At its core is the AccessFintech Synergy Network, a modern and secure collaboration network that allows for resolution and decision-making in one place. It facilitates data collaboration at scale and provides more visibility into transaction data and access to benchmarking insights. Synergy’s workflow optimization speeds and simplifies transactions through digital automation, mutualizes risk, and allows for better, more enlightened decision-making across organizations and functions. It also offers broad technology distribution that provides industry-wide connectivity to new technologies, reducing the cost of ownership for all. The Synergy Network has built a critical mass of data, participants and solutions with leading financial institutions and processes over a billion transactions every month. For further information please go to accessfintech.com or follow us on LinkedIn or Twitter.
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