BNP Paribas have 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.
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.
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.
“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.
“Cashforce and BNP Paribas make a great team: a leading cash management bank with the next generation cash forecasting specialist. This partnership will let clients enjoy a fully integrated/seamless treasury experience,” added Nicolas Christiaen, CEO of Cashforce.
CTMfile take: This is an important partnership combining the energy and focus of one of the leading gobal network banks, who now have a well established global cash management infrastructure and platform, with one of todays most exciting cash flow forecasting and working capital fintech platforms.
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