Banks Tap FinTechs In Anticipation Of Corporate Client Growth

SMB Banking

Financial institutions (FIs) large and small are bracing for growing pressure from their small business and corporate clients for digital-native solutions in a broader push for growth. To prepare, those FIs continue to embrace B2B FinTechs, with this week’s roundup of the latest partnerships finding a focus on payments modernization, SMB cash flow and corporate treasury.

HSBC Embraces Open Banking With APIs

HSBC is rolling out a new application programming interface (API) developer portal in its latest sign of support for the open banking model. The platform will connect developers with HSBC API solutions that they can use for their own products, with HSBC initially focusing on unlocking access to treasury payment and account data. Several APIs will also facilitate data connectivity with regard to trade processing, bank guarantee status, global disbursements and custody holdings, and will add additional APIs moving forward. According to the announcement, HSBC’s portal also allows third parties to access payment and account information in the 15 jurisdictions in which open banking regulations are in place.

Pacific Western Chooses Finzly For FX

Pacific Western Bank has chosen to deploy technology from the FinTech Finzly to enhance its FX and global banking offerings to clients. A press release said the bank has adopted Finzly’s FX STAR platform, which enhances Pacific Western clients’ ability to manage foreign currency exposure and execute FX transactions, as well as to manage their multi-currency accounts used to initiate cross-border payments. In a statement, Pacific Western Bank VP and COO Mark Yung said the collaboration is “part of our strategic push to partner with FinTechs in search of best-of-breed solutions.”

Kyriba Develops Treasury Tool With Société Generale

France’s Société Generale has signed on to collaborate with Kyriba and develop a new treasury management solution for the bank’s corporate customers. According to the announcement, the cloud-based tool will focus on payments automation and fraud mitigation, with support for real-time monitoring of treasury positions and liquidity.

Summit Bank Boosts Commercial Banking With nCino

Summit Bank, based in Oregon, has chosen nCino’s infrastructure to enhance its own commercial banking offering, the companies said in a recent announcement. Summit will use nCino’s Bank Operating System to bolster its business lending operations, as well as its Commercial Banking and Automated Spreading solutions. Gary O’Connell, market president at Summit Bank, said, “We decided it was time to enhance our offerings to better meet the needs of our clients. It was important to us that we weren’t simply implementing a point solution, but to ensure that we found a key long-term partner with a platform that could grow with us.”

Finxact Connects Banks To Autobooks Technology

Finxact, which provides technology to banks, recently announced that the small business account receivables (AR) platform Autobooks has joined its marketplace and thus will be available for Finxact’s FI customers. Pointing to the need for small businesses to have access to robust, digital-first banking and financial management solutions, Finxact said that connecting banks to Autobooks enables FIs to embed key back-office services using cloud- and API-first technologies. “Together, we can leverage our technology and go-to-market expertise to deliver solutions that help small business owners overcome their daily cash flow struggles,” said Autobooks Chief Product Officer Chris Spiek in a statement.

Payrailz Connects Liberty Bank To Digital Payments Stack

Payrailz’s latest banking client is Connecticut’s Liberty Bank, which is adopting Payrailz’s platform to digitize its payments strategy. The solution supports services for both consumers and businesses, enabling bill payment, account-to-account (A2A) transfers, peer-to-peer (P2P) payments and bill negotiation capabilities. Payrailz’s tool also enables the bank to deploy artificial intelligence (AI) and machine learning to provide a more customized experience for end users.