Numeral and HSBC join forces to facilitate integrated payments for fintechs

Numeral, a French FinTech specializing in payment solutions, has partnered with HSBC Innovation Banking UK to offer innovative businesses, such as FinTechs and InsurTechs, the integration of payment services via Numeral's APIs. This partnership enables business customers to use HSBC's services seamlessly and in real time, improving the efficiency and transparency of their transactions. By integrating with HSBC, Numeral strengthens its position in the financial services market, responding to a growing demand for integrated and competitive payment solutions, while illustrating the trend towards collaboration between traditional banks and FinTechs.

FACTS

• Numeral has announced a strategic collaboration with HSBC Innovation Banking UK.
• The aim of this agreement is to enable corporate customers of both entities to benefit from the account and payment services of the HSBC subsidiary, directly via Numeral's offering. These services have been integrated into Numeral's infrastructure via API.
• In concrete terms, customers will have access to new functionalities derived from HSBC's services, such as :
• Sending and receiving specific payments (UK Bacs, CHAPS and FPS), as well as SEPA and Swift payments;
• A real-time view of their HSBC Innovation Banking UK accounts and transactions.

CHALLENGES

• Combining expertise: By creating this type of partnership, fintech enables innovative companies to benefit from its services, while choosing a renowned banking partner. Customers can thus capitalize on the specific expertise of a bank that suits their needs, combined with Numeral's payment technologies.
• An integrated solution: With this collaboration, Numeral and HSBC aim to simplify and enhance the customer experience by offering an integrated solution that streamlines payment processes and provides greater visibility over transactions. This not only saves time, but also reduces operational costs and improves cash flow efficiency.
• Streamline processing: Among the early adopters of this offering is InsurTech Qover, which uses the technology to optimize the claims payment process. This enables it to streamline the claims payment experience for its customers. Claims processes are smoother, and payments are managed entirely from the Numeral interface, from payment initiation to follow-up. The result is also positive for customers, who receive payments faster in the event of a claim.

MARKET PERSPECTIVE

• In the financial services market, payment integration has become a key requirement for innovative companies. The ability to integrate payment services directly into product platforms offers a significant competitive advantage, particularly in an environment where speed and efficiency are essential.
• By partnering with HSBC, a renowned bank with global reach, Numeral strengthens its market position and offers its customers access to a robust financial infrastructure.
• This collaboration is part of a wider trend where traditional financial institutions are partnering with FinTechs to enhance the customer experience and adapt to the ever-changing needs of the market.
• This is not Numeral's first initiative on this theme. Last June, for example, the fintech also announced a partnership with BNP Paribas, with the aim of supporting European payment companies.