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BNP Paribas to buy currency risk management firm Kantox

BNP Paribas to buy currency risk management firm Kantox

BNP Paribas has struck a deal to buy currency risk management automation firm Kantox. Financial terms were not disclosed.

Kantox offers corporates a one-stop-shop, API driven, plug-and-play solution for setting up hedging strategies.

BNP Paribas has been offering the firm's hedging technology to clients since 2019. Now, two of the bank's Corporate & Institutional Banking (CIB) and Commercial, Personal and Banking Services (CPBS) divisions will now push Kantox software to large corporate as well as SME and mid-cap clients.

"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," says Olivier Osty, head, global markets, BNP Paribas CIB.

Comments: (1)

Enrico Camerinelli
Enrico Camerinelli - Aite Group - Boston 12 October, 2022, 08:36Be the first to give this comment the thumbs up 0 likes

It is very important to approach currency conversion throughout the entire end-to-end process, from the moment the treasurer has to decide the best options for an FX transaction, passing through the hedging plan, down to the execution of the currency pair conversion  .

A solution that operates as a decision support system that automates key activities and keeps the treasurer always up-to-date is the foundation of managing (and mitigating) FX risk.