BNP Paribas and Cashforce enter into a partnership to offer digital cash flow forecasting and working capital services to Corporate Treasurers
26.09.2018 | Group, Press release
- Through this partnership, BNP Paribas will offer to its clients Cashforce’s next-generation digital cash forecasting and treasury management solutions, focused on analytics, automation and integration.
- To further extend its commitment to this partnership, BNP Paribas also invested in Cashforce.
26 September 2018 – Pursuing the digitalisation of its Corporate clients’ user experience, BNP Paribas today announced it has sealed a partnership with Cashforce, a Fintech company that will allow the Bank to enhance client journeys within cash management and trade finance. Through this partnership, Corporates will experiment a digital, autonomous and cross-banking solution for their day to day transaction banking needs: by connecting its treasury department with other business and finance departments, and by offering full transparency into the cash flow drivers, accurate and automated cash flow forecasting and treasury reporting.
BNP Paribas continues to invest in its digital offering to treasurers and this partnership – which brings the transaction banking business another step closer to open banking – reflects its technology-centric focus and leadership. The platform is unique in its category because of the seamless integration with numerous ERP systems and financial data sources, the ability to drill down the transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts and impact analyses.
“This partnership with Cashforce marks a new step in our digital transformation and illustrates our commitment to offering our clients the best-in-class solutions they deserve, wherever they come from. Forming agile partnerships with innovative Fintechs like Cashforce, who leverage new technologies such as AI, helps us to significantly accelerate the digitalisation of our customer journey in the area of transaction banking,” commented Jacques Levet, Head of Transaction Banking EMEA BNP Paribas.
“The partnership with BNP Paribas will further boost our international expansion and make more treasury departments work with accurate, efficient and best-in-class cash flow analytics and cash forecasting solutions. Also our working capital analytics engine will further strengthen the integrated banking and trade finance experience for BNP Paribas’s clients.” added Nicolas Christiaen, CEO of Cashforce.
The platform will be available to clients through CENTRIC, BNP Paribas’ integrated digital banking platform that gives corporate & institutional actors instant access to the spectrum of BNP Paribas' online financial services.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 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 realize 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.
Cashforce is a ‘next-generation’ Cash Forecasting & Treasury Management System, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.
Cashforce is a global company with offices in Antwerp, Amsterdam, Paris, London & New York and provides Cash visibility to multinational corporates across various industries in over 120 countries worldwide.
- Jacques Levet - Head of Transaction Banking EMEA, CIB