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The Bank of London teams up with SAP Fioneer

Tuesday 28 June 2022 14:37 CET | News

The Bank of London, a clearing, agency, and transaction bank, has teamed up with SAP Fioneer, a provider of financial services software solutions and platforms, to transform and simplify global clearing and transaction banking.

The Bank of London is the UK's second clearing bank authorised in the last 250 years. Its technology platform is engineered to be a foundational building block of economic infrastructure of the future. The solution uses a combination of The Bank of London's patented technologies in parallel with SAP Fioneer’s scalable cloud banking platform.

Founded in 2021 as a joint venture between a technology provider SAP and PE firm Dediq, SAP Fioneer set out to accelerate innovation in the financial services industry for and with its customers.

SAP Fioneer’s Cloud for Banking platform (C4B) is integrated with The Bank of London's API, providing a fully integrated real-time, friction free compliance, clearance, settlement, and payments solution designed to service banks, fintechs, and corporates. After the expected go live in October 2022, the solution will provide faster connection to payment schemes in the market.

Combining these offerings will provide a better solution for compliance, clearing, payments and settlement in GBP, EUR, and USD. 


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Keywords: banks, transactions , clearing house, cloud, financial services
Categories: Banking & Fintech
Companies: CIA, The Bank of London
Countries: World
This article is part of category

Banking & Fintech

CIA

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The Bank of London

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