London 16th May 2017 – BNP Paribas today announces it has made a strategic investment in Symphony Communication Services, LLC and that Cyril Cottu, Global Co-Head of Electronic Market Making and Commerce, BNP Paribas will join Symphony’s board of directors.
Symphony Communication Services, LLC announced it has raised $63 million in new capital to accelerate global adoption, propel platform innovation and expand into new markets. BNP Paribas led the round, along with additional investment by a majority of Symphony’s existing shareholders.
BNP Paribas’ investment reflects its technology-centric focus and leadership. With Symphony, BNP Paribas will be delivering greater workflow efficiencies to employees and innovative experiences to clients. Among the Symphony users at BNP Paribas, the firm is already seeing smoother information flow and the potential of automated processes.
Symphony previously raised a total of $170 million from the world’s leading financial firms, venture capital firms, and Google.
Olivier Osty, Executive Head of Global Markets, BNP Paribas said:
“Digital transformation is central to BNP Paribas Global Markets’ strategy, and collaboration with fintechs is an important part of that process. Forming agile partnerships with exciting and innovative companies like Symphony helps us to deliver an exceptional service to clients, and to remain their partner of choice in a changing world.”
David Gurlé, founder and CEO of Symphony said:
“We are thrilled to welcome Cyril to our board and to have BNP Paribas’ support as we accelerate global adoption of the Symphony platform. It has been exciting to see how BNP Paribas is embracing Symphony and is about to innovate on the platform in unique ways, focused particularly on streamlining workflows and enhancing client service.”
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BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Symphony is the cloud-based messaging and collaboration platform that connects markets, organizations and individuals, securely. Powered by an open and growing app ecosystem, and protected with customer-owned encryption keys, Symphony’s communication platform increases workflow productivity while maintaining global regulatory compliance. Already the platform of choice for the financial services industry, Symphony eliminates inefficient workflows to boost productivity in information-driven businesses. Founded in October 2014 and headquartered in Palo Alto, CA, the company has offices in New York, Hong Kong, Singapore and London
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