BNP Paribas selected Riskfactor, a risk management software solution from Lenvi, a provider of commercial lending software for the factoring and receivables finance market, to support its European risk management and operations functions.
Over the course of the multi-year contract between the two companies, Lenvi will support BNP Paribas in reducing risk and improving operational efficiency. Through the implementation of the full-service risk management and fraud analytics software for receivables finance, Riskfactor will assist BNP Paribas in its attempts to prevent and manage risk and fraud.
BNP Paribas will implement the complete Riskfactor product portfolio in eight countries across Europe.
“We are excited to partner with BNP Paribas, who is a leader in European receivables finance,” Richard Carter, CEO of Lenvi said. “Riskfactor allows businesses to harmonize responses and operations across jurisdictions, resulting in significant improvement in overall operations efficiency. We look forward to working together with BNP Paribas to support them in optimizing their risk management capabilities, while preventing fraud and improving overall efficiency. BNP Paribas’ commitment to risk management ensures a future-proof business.”
“We are confident that Riskfactor will deliver on its promise and we are happy to have Lenvi’s support in implementing the solution,” Lionel Joubaud, global head of factoring, BNP Paribas said.
