British banking group HSBC has made an undisclosed investment in Visible Alpha, a US-based investment research technology firm.

The bank will also add its research analyst models to the technology firm’s platform. At the same time, it intends to contribute to Visible Alpha Consensus Data.

Visible Alpha CEO Scott Rosen said: “We are pleased that HSBC embraces our vision for the future of institutional research and appreciates the ability of our platform to enhance the gathering of insights from their analysts’ underlying company forecasts and assumptions.”

Visible Alpha is already backed by major banking groups including Goldman Sachs, Banco Santander, Exane BNP Paribas, Macquarie Group, Royal Bank of Canada, and Wells Fargo, who participated in a funding round for the technology firm in January 2018.

The January funding round, which helped raise $38m, was also joined by the firm’s founding investors namely Bank of America, Citi, Jefferies, Morgan Stanley and UBS.

Visible Alpha plans to use the capital to drive its growth by launching new products. The firm will also set up an advisory board comprising of existing investors, who will offer guidance on product development.

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HSBC global head of research and advisory board member David May said: “Visible Alpha has rapidly become a leader in helping both the buy side and the sell side overcome the myriad of challenges involved in creating and disseminating investment research. We look forward to working with them to provide a valuable service to our clients.”