Cashforce powers BNP Paribas corporate banking
BNP Paribas has partnered with Cashforce, a cash management and trade finance company, as the bank pursues the digitalisation of its corporate clients’ user experience.
The banking group has also invested in Cashforce.
The solution connects its treasury department with other business and finance departments, and offers “transparency” into the cash flow drivers, and automated cash flow forecasting and treasury reporting.
“Forming agile partnerships with innovative fintechs like Cashforce, who leverage new technologies such as artificial intelligence (AI), helps us to significantly accelerate the digitalisation of our customer journey in the area of transaction banking,” says Jacques Levet, head of transaction banking EMEA, BNP Paribas.
The firms say that the platform is unique because of the integration with various ERP systems and financial data sources. The solution also allows AI-based simulations of cash flow scenarios, forecasts and impact analyses.
The platform will be available to clients through Centric, BNP Paribas’ digital banking platform that gives corporate and institutional firms access to the bank’s online financial services.