BNP Paribas rolls out BENEtracker to offer real-time transaction monitoring

By Megha Bhattacharya

European bank BNP Paribas announced the launch of BENEtracker, a new solution that allows international credit transfer issuers to offer their beneficiaries real-time monitoring of their transactions. BENEtracker is accessible to all BNP Paribas corporate clients, via their e-banking tool – Connexis Cash or Ma Banque Entreprise.

According to BNP Paribas, the tool is expected to provide corporates with fluidity in international payments and an enhanced cash management capability. It also gives them access to a user-friendly and secure platform for the beneficiaries of their transactions.

“The complexity of an international transfer for companies lies in the dependence of a long chain of actors and regulations to complete the transaction. BENEtracker makes it possible to trace and streamline international payments. This solution also meets the growing cash management needs of corporate clients in an increasingly complex and globalised operating environment.” explained Marc Spain Head of Payments and Cash Management at BNP Paribas.

BENEtracker is based on the Bank’s SWIFT GPI Metroline, which provides international payment issuers with real-time visibility on the progress and status of each transaction until the credit of the beneficiary’s account. The Group is also rolling out its integrated retail-banking model across the Mediterranean countries and in Turkey and Eastern Europe and has a network in the western part of the United States. The Bank operates in 71 countries and has almost 199 000 employees, including more than 151 000 in Europe.

Recently, Tink, the Swedish open banking platform provider, announced that Italian bank BNL has launched a multi-banking service with the former. BNL forms a part of the international group BNP Paribas. The collaboration aims to strengthen the collaboration between BNP Paribas and Tink that began in the first half of 2020.