BNP Paribas acquires Kantox 13 July 2023EU Reporter: Jamie Richards
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BNP Paribas has received all the relevant regulatory approvals to acquire Kantox, a fintech specialising in the automation of currency risk management.
Kantox, which has offices in London and Barcelona, was founded in 2011 with the aim of addressing challenges faced by corporate treasurers in currency management.
The acquisition was supported by BNP Paribas’ Global Markets business, part of its CIB division, and the Commercial, Personal and Banking Services divisions.
BNP Paribas considers the acquisition a part of its “Growth Technology Sustainability 2025” plan.
The firm’s securities services business recently launched an AI assistant, NextGen Online (NOA), based on IPsoft’s conversational AI model Amelia.
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