Today In Digital-First Banking: HMBradley Lands $18.25M In Series A; HSBC Debuts Global Real-Time Payments Tool

HMBradley Lands $18.25M In Series A

In today’s top news in digital-first banking, online banking platform HMBradley has raised $18.25 million in a Series A round, while HSBC is introducing a new real-time payments offering. Plus, Spanish financial firm BBVA has created an offering that simplifies expense management.

Digital Bank HMBradley Raises $18.25M to Accelerate Credit Program

HMBradley announced on Tuesday (Nov. 24) that it landed Series A funding of $18.25 million to accelerate its credit program. The Acrew Capital-led funding will also be harnessed to grow its client offerings. HMBradley rolled out its high-yield savings accounts and direct deposits in March of this year.

HSBC Introduces New Global Real-Time Payments Tool

HSBC is debuting a new real-time payments technology that will enable its 14 million international clients to move money via one account in 20 nations. “As the world’s leading international bank, it is our ambition to put banking in our customers’ pockets, and create a top-tier borderless banking experience that lets them manage their finances whenever and wherever they want,” Matthias Dekan, head of HSBC Global Money, HSBC Group, said in a statement.

BBVA Streamlines Expense Management for Card Purchases

BBVA has created a Global Commercial Cards offering that lets companies have greater control over the use of commercial cards by staffers. The new offering is meant to help business clients in simplifying and making the most of expenses paid via the bank’s business cards. Global Commercial Cards is connected with expense management technologies such as SAP Concur and Expensify, among others.

Report: Janet Yellen Is Biden’s Pick for Treasury as Brainard Fades

Janet Yellen is reportedly the incoming Biden administration’s choice to be Treasury secretary. President-elect Joe Biden intends to nominate Yellen, the ex-chair of the Federal Reserve, to lead the Treasury. If she is confirmed by the Senate, Yellen would become the first woman in American history to hold the Treasury post. Her emergence as Biden’s probable choice comes as Fed Governor Lael Brainard, once thought of as a front-runner for the position, fades from view.