Numeral has partnered with HSBC Innovation Banking in order to enable companies to embed the latter’s payment and account services via Numberal APIs. Following this announcement, the offering is available for firms and companies that are both Numeral and HSBC Innovation Banking UK users.

This also includes Qover, which has selected the financial institutions in order to optimise the claim payout experience of its customers. In addition, the companies are expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the laws and regulatory requirements of the local industry as well. More information on the announcement Payments and operations, including corporate payments and treasury operations, represent an important step in the process of optimising the customer experience of multiple firms’ services, such as fintechs, insuretechs, and marketplaces.

In order to support these enterprises in the process of delivering an improved user experience, the Numeral platform integrates with HSBC Innovation Banking UK’s cash management infrastructure. Throughout this partnership, several financial institutions and marketplaces banked by HSBC Innovation Banking UK will be given the possibility to securely and efficiently incorporate the HSBC Innovation Banking UK services through the use of Numeral’s single API, as well as its modern payment operations dashboard. These include sending and receiving UK Bacs, CHAPS, and FPS payments,  SEPA and Swift payments, as well as the possibility to access their HSBC Innovation Banking UK account balances and transaction data in real-time.

The collaboration will enable clients to embed payments and account services, while also streamlining processes and accelerating the development of the overall financial landscape. Qover also made significant investments in order to streamline its end-to-end claim processing, relying on HSBC Innovation Banking UK and Numeral. The company was enabled to automatically initiate claim payouts as soon as they were approved, and track these payouts in real-time.

Customers received their payouts faster and safer, while Qover’s operations were streamlined efficiently. .