BNP Paribas is strengthening its commitment to its long-term business plan by adopting Lenvi Riskfactor's comprehensive risk management and fraud analytics software for factoring and receivables finance.

In an economically challenging environment, global importance has grown for risk management. This initiative will benefit each European country where BNP Paribas operates, with the launch occurring under a multi-year contract.

Lenvi, the leading provider of commercial lending software and solutions to the factoring and receivables finance market, has been appointed by BNP Paribas, to support its European risk management and operations functions through its risk management software Riskfactor.

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.  

BNP Paribas will implement the complete Riskfactor product portfolio in eight countries across Europe.

Richard Carter, CEO, 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, 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.