Lenvi, a foremost supplier of commercial lending software and solutions, and BNP Paribas, a significant European financial institution, have entered into a partnership.
Given the challenging economic landscape, there is a heightened global emphasis on risk management. In response, BNP Paribas is investing in its long-term strategy by incorporating Lenvi’s Riskfactor software, aiming to bolster its risk management and fraud analytics capabilities for factoring and receivables finance.
Lenvi has distinguished itself in the industry, primarily catering to the factoring and receivables finance market. Their Riskfactor solution commands a market share of over 90% in the UK and maintains a prominent presence in continental Europe since 2007. On the other hand, BNP Paribas, a renowned player in the European receivables finance sector, has a vast footprint, operating across multiple European nations.
This collaboration between BNP Paribas and Lenvi entails the utilisation of Lenvi’s full-service risk management and fraud analytics software, Riskfactor. The multi-year contract will witness Lenvi aiding BNP Paribas in minimising risk and enhancing operational efficacy. Through Riskfactor, BNP Paribas aims to significantly curtail and oversee risk and fraudulent activities. Furthermore, the complete Riskfactor product portfolio will be instituted in eight European countries by BNP Paribas.
The increasing global importance of risk management, especially within the financial sphere, has driven firms like BNP Paribas to strategise and invest for long-term resilience.
Lenvi CEO Richard Carter said, “We are excited to partner with BNP Paribas, who is a leader in European receivables finance. Riskfactor allows businesses to harmonise responses and operations across jurisdictions, resulting in significant improvement in overall operations efficiency. We look forward to working together with BNPParibas to support them in optimising their risk management capabilities, while preventing fraud and improving overall efficiency. BNP Paribas’ commitment to risk management ensures a future-proof business.”
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