BNP Paribas is to acquire Kantox, a London, UK-based fintech for automation of currency risk management. The deal is subject to regulatory approvals and is expected to complete in the coming months.The acquisition of Kantox 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. The agreement enables BNP Paribas and Kantox to jointly offer Kantox’s Dynamic Hedging solution to BNP Paribas’ clients across EMEA. Dynamic Hedging is an innovative 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’ digital banking platform.Led by Philippe Gelis, CEO, Kantox is a fintech company building software solutions that help businesses to overcome complex FX challenges and leverage foreign currencies for growth. Its expertise and solutions allow businesses to capture FX exposure data and automate their hedging, payment and collection processes. Over 3,900 clients in 70 countries use Kantox with their payment and currency management needs.17/10/2022
