AccessFintech, a firm helping the capital markets’ operating model evolve through data and workflow collaboration, has scored an investment from BNP Paribas.
The round was led by WestCap. AccessFintech has now secured investment from the world’s largest financial institutions including Bank of America, BNY Mellon, Citi, JP Morgan and Goldman Sachs.
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.
AccessFintech claims 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.
AccessFintech CEO Roy Saadon 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.”
Superscript, a digital-first insurance provider to small businesses and high-growth tech firms, has scored £45m in a Series B raise.
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