BNP Paribas has invested in AccessFintech, a fintech focused on the capital markets’ operating model through data and workflow collaboration. The investment is being made by BNP Paribas’s securities services unit. Clients will be able to enhance operational efficiency through the deployment 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. Synergy helps organisations meet regulatory requirements through mutually managed network solutions.
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 some of 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.