Kantox, a fintech for automation of currency risk, will speed up its development with the backing of BNP Paribas and the qualities of its coordinated business model.This procurement expands on the underlying key organization between BNP Paribas and Kantox started in September 2019.
BNP Paribas is satisfied to report the mark of an understanding for the acquisition of Kantox, a leading fintech for automation of currency risk management. Kantox’s product arrangement has figured out how to effectively re-group the Corporate FX work process, offering a one-stop-shop, API driven, plug-and-play solution which has emerged as a unique technology within the B2B cross-border payments sector. Kantox’s innovation gives unparalleled degree of robotization and refinement to Corporates in setting up hedging strategies.The acquisition is subject to regulatory approvals and is expected to complete in the coming months.
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Philippe Gelis, CEO and co-founder at Kantox: “We have been serving clients together since 2019 when our technology partnership started. During those 3 years, we spent a lot of time together in the field, getting the opportunity to understand that together we were stronger and able to bring more value to clients. It is the best of both worlds, the leading software company in the currency management automation categoryand the leading bank in Europe.”
Olivier Osty, Head of Global Markets, BNP Paribas CIB: “We are delighted to strengthen our partnership with Kantox, which brings to our clients a unique and innovative platform to automate their currency risk management. Corporate treasurers are currently navigating turbulent markets and advanced technology can help mitigate some of the challenges, easing the burden of manual tasks and allowing them to focus on their core business.”
BNP Paribas is strategically situated to speed up and stretch out Kantox’s proposing to many Corporate clients across the globe by leveraging its integrated business model. The procurement of Kantox is upheld by the Global Markets business of BNP Paribas’ CIB division and the business centres of the Commercial, Personal and Banking Services (CPBS) division. The two divisions mean to send Kantox innovation to huge corporate as well as SME and Mid-Cap clients, capitalising on market knowledge and its local presence.
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This acquisition illustrates BNP Paribas’ Growth Technology Sustainability 2025 plan, that sets out to accelerate the development of technological innovations, to enhance customer experience and to provide best-in-class capabilities to its clients.
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