Back to Blog

BNP Paribas to Deploy Dynamic Hedging Tech from Kantox

BNP Paribas has formed a partnership with Kantox, a fintech firm specializing in FX risk management solutions, reports Sharon Kimathi of Fintech Futures (Finovate’s sister publication).

The agreement enables BNP Paribas and Kantox to jointly offer Kantox’s Dynamic Hedging solution to BNP Paribas’ clients across EMEA.

Dynamic Hedging is a software solution developed by Kantox, which allows corporate treasurers to fully automate and streamline FX workflows. The solution will complement the product suite available on Centric, BNP Paribas’ leading digital banking platform.

Philippe Gelis, CEO and co-founder at Kantox, said: “We believe that our offering, combined with the financial strength of BNP Paribas as a banking partner, is an attractive value proposition for their existing corporate client base.”

Xavier Gallant, co-head of corporate rates, FX and local markets sales EMEA at BNP Paribas, said: “When it comes to managing foreign currency risk, we are seeing a real need for our corporate clients to improve efficiency in forecasting their future cash flows, formalizing hedging practices and optimizing execution through automation. BNP Paribas’ partnership with Kantox will offer corporate treasurers in EMEA the opportunity to access a fully automated hedging solution and ultimately improve their treasury processes. We look forward to a successful partnership.”

Kantox demonstrated its Peer FX, its peer-to-peer foreign exchange platform, at FinovateEurope 2013. The technology cuts out the middle man – the brokers and the banks – in the process by directly connecting two parties in an FX exchange. Earlier this year, the company announced that it had raised $5.7 million in a debt financing round.