HSBC Innovation Banking UK integrates payment and account services into Numeral platform
HSBC Innovation Banking UK is extending the reach of its payment and account services through a new collaboration with Paris-based payment technology provider Numeral.
HSBC Innovation Banking UK partners Numeral
The partnership has resulted in the integration of HSBC Innovation Banking UK’s cash management infrastructure into the Numeral platform, which launched in 2021.
Business clients will now be able to tap Numeral’s single API to harness multiple corporate payment capabilities, including UK Bacs, FPS, SEPA and Swift.
Account balances and transaction data from HSBC Innovation Banking UK will also be made available through the Numeral operations dashboard in real-time.
These capabilities will sit alongside the existing business functions contained within the Numeral platform, which include reconciliations, treasury, and risk and fraud management.
Speaking on the collaboration, Édouard Mandon, co-founder and CEO of Numeral, says the partnership will “bring together our unique expertise” and offer joint customers an “out-of-the-box integration” to appease those who “often struggle to find banking partners that understand their unique needs”.
Launched in June last year following the group’s £1 acquisition of Silicon Valley Bank UK, HSBC Innovation Banking UK services businesses (and their investors) across the technology and life sciences sectors with investment banking, private banking and asset management services.
This includes B2B spend management fintech Pleo, for which the subsidiary provided a €40 million debt financing facility in May.
