According to BELLIN, the collaboration with Kantox means it can combine its treasury management offering with Kantox’s services that provide companies with foreign currency, foreign exchange (FX) and risk management solutions. Together, the firms will target middle-market businesses looking to grow internationally.
Kantox, based in the European Union, provides FX hedging services and automates FX risk management for corporate treasurers at mid-market firms.
“By teaming up with Kantox, we can now complement our TaaS [Treasury-as-a-Service] offering with FX management and hedging,” said BELLIN Founder and CEO Martin Bellin in a statement. “This enables us to provide corporates of all sizes with all the crucial financial data they need, as well as financial instruments as a service. Businesses operating internationally, in particular, stand to leverage enormous potential and achieve optimal conditions for their finance departments — a ‘perfect world,’ so to speak.”
“By collaborating with BELLIN, we aim to offer medium-sized companies a solution that simplifies the day-to-day work in their finance departments considerably,” added Kantox CEO Philippe Gelis in another statement. “BELLIN’s TaaS offering supports our customers, as it covers all the different aspects of treasury and gives them access to things normally only large corporations would be able to afford.”
BELLIN’s partnership with Kantox follows a previous collaboration with Accuity, a compliance solutions provider, to integrate compliance services into treasury management operations.
“Businesses need to include additional security measures in their workflows in order to avoid making illegal payments, which could lead to frozen payments, large fines and reputational damage,” the companies said when their collaboration was announced in 2016.