Banks have historically described in-house FX management as a difficult and expensive exercise for corporates. Managing currency exchange across multiple business units poses notable challenges for treasury teams.
But Kantox, a BNP Paribas-owned fintech that sells currency management automation software to corporates, reckons it has addressed this issue by integrating the FX operations of subsidiaries with head office to create a central treasury function that can approve or reject internal FX transactions above preset amounts or else based on tenor or currency pair.
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