BNP Paribas receives approvals and completes the acquisition of Kantox
13 July 2023 · < 1 min read
BNP Paribas received all regulatory approvals for the completion of the acquisition of Kantox, a leading fintech for the automation of currency risk management.
The acquisition of Kantox illustrates BNP Paribas’ Growth Technology Sustainability 2025 plan, that sets out to accelerate the development of technological innovations, to enhance customer experience, from SME and Mid-Cap clients to large corporates. It is supported by the Global Markets business of BNP Paribas’ CIB division and the business centres of the Commercial, Personal and Banking Services (CPBS) division.
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
Kantox is a global leader in Currency Management Automation software. Its solutions enable corporates to automate their end-to-end corporate FX workflow, reduce FX risk and leverage foreign currencies to increase competitiveness. Since its establishment in 2011, Kantox has garnered the trust of clients from over 75 countries. Its innovative software covers the entire FX process, from accurate pricing with real-time exchange rates to effectively hedging currency risk and optimising cash management. The company is headquartered in London and authorised by the Financial Conduct Authority (reference number 580343), and Kantox European Union, SL is based in Barcelona and authorised by the Bank of Spain (reference number 6890). For more information, visit www.kantox.com, @Kantox, or LinkedIn.
Press contact Giaime Porcu– firstname.lastname@example.org – +33 (0)6 07 06 08 55