France-based bank BNP Paribas has joined forces with Lenvi to bolster its risk management and operational capabilities across Europe. The collaboration between these two companies involves the utilisation of Lenvi's risk management software, Riskfactor, and over the duration of a multi-year contract, Lenvi will work with BNP Paribas to mitigate risks and enhance operational efficiency.

By implementing Riskfactor, which is a comprehensive risk management and fraud analytics software tailored for receivables finance, BNP Paribas aims to bolster its ability to prevent and manage risks and fraud effectively. The deployment of Riskfactor will span across eight European countries. In the company press release, officials from Lenvi expressed their enthusiasm about the partnership with BNP Paribas, acknowledging their leadership in the European receivables finance sector.

They noted that Riskfactor facilitates streamlined responses and operations across different jurisdictions, resulting in substantial enhancements in operational efficiency. Lenvi emphasised its commitment to collaborating with BNP Paribas to optimise its risk management capabilities, prevent fraud, and enhance overall efficiency. Officials from BNP Paribas conveyed confidence in the capabilities of Riskfactor and expressed satisfaction with Lenvi's support in implementing the solution.

Other developments from BNP Paribas BNP Paribas is a European banking institution with a substantial international presence. It operates in 65 countries and maintains a workforce of nearly 185,000 employees. Leveraging its diversified business model, BNP Paribas offers a range of financial solutions to various client categories, including individuals, community associations, entrepreneurs, small and medium-sized enterprises (SMEs), corporates, and institutional clients.

These solutions encompass financing, investment, savings, and protection insurance. Within Europe, BNP Paribas holds a presence in four core domestic markets, namely Belgium, France, Italy, and Luxembourg. According to the company press release, the institution is expanding its integrated commercial and personal banking model into several Mediterranean countries, Turkey, and Eastern Europe.

In October 2023, BNP Paribas joined up with the corporate startup studio 321founded to launch the Panto fintech. Panto introduces a specialised payment management solution created for online marketplaces, emphasising seamless and secure transactions. Positioned as a European-made alternative, Panto is targeting the European payments market with a platform designed to cater to marketplaces, which offers an array of payment functionalities through an API that can be integrated swiftly.

In May 2023, Numeral partnered with BNPL provider Alma to automate payments to merchants in collaboration with BNP Paribas. The collaboration came at a time when merchants adopted new payment options for buyers who have increased expectations for more flexible payment options within their shopping experience. .