Following this collaboration, Clearwater Analytics will combine its value proposition and end-to-end investment lifecycle solutions with the BNP Paribas’ Securities Services company product. This aims to open business opportunities with multiple asset owners across the bank’s custody network of numerous markets around the world. The solutions will focus on providing customers with both banking and non-banking services in order to strengthen their presence in the industry.
Clearwater’s comprehensive tool for the investment of data management and reporting was designed for insurance providers and companies that prefer to leverage on management display console that integrates all parts of the needed technology infrastructure. In order to act on their capital data in seconds, as well as to enable multi-asset-class, reconciliation, book-of-record, and daily aggregation, multiple clients seek a single view of their investment portfolios.
Furthermore, users will have the possibility to benefit from Clearwater’s streamlined onboarding process and fast account set-up services in order to develop themselves and their presence in the market.
BNP Paribas represents an international banking group that offers companies, financial institutions, and customers multiple solutions and products. The business had multiple partnerships in the last couple of months, covering multiple geographic areas.
In March of 2023, the banking group announced its partnership with UK-based fintech Hokodo to launch a B2B Buy Now, Pay Later (BNPL) service for B2B focused commerce businesses. The press release revealed that the companies aimed to provide a complete B2B payments solution, and the addition of the B2B BNPL offering prioritised the process of enabling large multinational corporates to provide their business clients with multiple payment alternatives. The full service included proprietary credit decisioning, credit and fraud insurance, collecting through an e-mandate and dunning, transaction financing, and different financing options to better-fit merchants’ needs.
A month prior, BNP Paribas collaborated with BMO Financial, announcing a new cross-border framework to enhance coverage and access to a global network. The businesses were also set to enter a comprehensive leasing services partnership. As part of this collaboration agreement, both of the banks continued to provide, expand, and develop international services offered to users.
In February 2023, the company also announced its plans to buy back EUR 5 billion of shares following the sale of its US unit. The bank’s representatives issued a statement in which they clarified that the entity will distribute about EUR 4 billion to the Bank of the West sale, as well as EUR 962 million as part of its conventional shareholder return policy. These sums were to be distributed in two tranches during the course of 2023.
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