BNP Paribas taps Lenvi to manage risk for factoring and receivables finance
BNP Paribas has partnered with fintech firm Lenvi to utilise its risk management and fraud analytics solution Riskfactor for its factoring and receivables finance operations.
BNP Paribas enters multi-year partnership with Lenvi
BNP Paribas Factoring has an overall presence in 12 countries and employs 1,300 people with an annual turnover acquired by clients exceeding €210 billion.
Through a multi-year contract, the company will deploy the complete Riskfactor product portfolio in eight countries across Europe in a bid to reduce risk and increase operational efficiency.
“Riskfactor allows businesses to harmonise responses and operations across jurisdictions, resulting in significant improvement in overall operations efficiency,” claims Richard Carter, CEO of Lenvi.
Founded in 2023 via a combination of UK-based Equiniti’s EQ Credit Services, EQ Riskfactor and EQ KYC Solutions, Lenvi is a fintech focusing on B2B consumer and commercial lending software and solutions, including loan management software, risk management software, mortgage and loan servicing, standby servicing, and Know Your Customer (KYC).
Lenvi claims its Riskfactor solution has more than 90% market share in the UK as well as a presence in continental Europe, where it has been active since 2007.
