BNP Paribas Securities Services has secured four new European online banks as clients for its US broker-to-custody platform.
The service offers clearing, settlement and custody processes for US fund flow.
Germany’s OnVista Bank, Spain’s Self Trade Bank, Austria’s Hello Bank and the Czech Republic’s Raiffeisenbank all signed up to the platform.
BNP Paribas added Sweden’s Avanza Bank, Norway’s Netfonds Bank and Portugal’s Banco de Investimento to the platform in 2016.
Florent Thiry, head of financial intermediaries and corporates client line for the Americas at BNP Paribas, said: “Expanding the broker-to-custody global model to include the US has enhanced the bank’s position as the key provider to international broker-dealer and banking clients.”
“Our clients have greatly benefitted from the platform’s effectiveness, flexibility and ease of use. We are delighted to work with these four new clients.”
