Numeral partners with HSBC Innovation Banking UK

By Gloria Methri

Numeral and HSBC Innovation Banking UK have partnered to enable innovative companies to embed HSBC’s payment and account services via Numeral APIs. The offering is available to companies who are both, a Numeral and HSBC Innovation Banking UK client, such as InsurTech Qover.

Payments and operations, including corporate payments and treasury operations, are core to the customer experience of many innovative companies’ services, including FinTechs, InsurTechs and marketplaces.

To support these companies in delivering a state-of-the-art user experience, the Numeral platform now integrates with HSBC Innovation Banking UK’s cash management infrastructure. Many leading FinTechs, InsurTechs and marketplaces banked by HSBC Innovation Banking UK can now incorporate those services through Numeral’s single API and modern payment operations dashboard.

“We are delighted to be collaborating with Numeral and introducing a new offering to our joint clients with the opportunity to embed our payment and account services through Numeral’s APIs. It’s great to see how our innovative clients, like Qover, can use this to their advantage to streamline processes and improve customer experience,” says Hugo Pires, Director of Global Treasury & Payments Advisor (FinTech) at HSBC Innovation Banking UK.

As part of its efforts to improve user experience and operational efficiency, Qover made significant investments to streamline its end-to-end claim processing, relying on HSBC Innovation Banking UK and Numeral for its last mile: the claim payout process.

“When claims are paid, customers benefit from the safety net an insurance policy provides. At Qover, we see the claims journey as the moment of truth for customers. We, therefore, decided to fundamentally reshape the claim experience, leveraging AI at key stages such as claim submission and review. By integrating with HSBC Innovation Banking UK through Numeral’s API, we can automatically initiate claim payouts as soon as they are approved and track these payouts in real time. Customers receive their payouts much faster, and Qover’s operations have been streamlined,” said Ed Ackerman, Chief Customer Officer at Qover.

“Innovative companies for which payments are core to their products often struggle to find banking partners that understand their unique needs. This is why we are thrilled to collaborate with HSBC Innovation Banking UK to bring together our unique expertise and offer joint customers an out-of-the-box integration,” added Édouard Mandon, Co-founder and CEO at Numeral.