BNP Paribas’ BENEtracker, a product co-created along with a major corporate client to facilitate their payment inquiries, is now available to all BNP Paribas Cash Management customers via the e-banking tool Connexis Cash.
Whether it is a large multinational with a centralised payment factory, or a smaller company working with international customers and suppliers, answering payment inquiries can be a time-consuming activity. The BENEtracker uses SWIFT gpi technology to relieve this pain point by allowing corporates to proactively share tracking links with their beneficiaries for them to track international payments coming their way in real-time.
For around a year, Connexis Cash users have had access to the SWIFT gpi metroline giving them a real-time view on the statuses of their international transactions, including intermediary banks routing and fee deductions. Now, they can offer the same tracking capability to their counterparties in just a few clicks. The Counterparty Advice functionality in Connexis enables users to generate a PDF file containing not only the transaction details but also a link to the BENEtracker portal where their supplier expecting an international payment from them can monitor the progress of the transaction until the account has been credited. The email sent to the beneficiary from Connexis Cash is totally secure and no sensitive payment data is displayed in the portal. This new service in Connexis Cash is now available to all users, without any prior activation or additional charges.
BENEtracker equips treasury teams with a very convenient way of proactively keeping their internal and external stakeholders updated on their payment statuses. By deploying this new cutting-edge functionality, BNP Paribas has taken an important step towards making the life of its customer’s treasury teams easier.