BNP Paribas appoints Lenvi to support risk management for factoring

Over the course of the multi-year contract, 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 enable BNP Paribas to better prevent and manage risk and fraud.

During the current challenging economic climate, risk management is becoming increasingly important globally. Investing in its long-term business plan, BNP Paribas will implement the complete Riskfactor product portfolio in eight countries across Europe.

Richard Carter (pictured), CEO of Lenvi 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 BNP Paribas 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.”

Lionel Joubaud, Global Head of Factoring at BNP Paribas, said: “We are confident that Riskfactor will deliver on its promise and we are happy to have Lenvi’s support in implementing the solution.”

Lenvi’s Riskfactor solution has over 90% market share in the UK and a significant presence in continental Europe, where it has been active since 2007.