BNP Paribas, Europe's leading bank, has partnered with Libeo, a B2B payments specialist for small businesses and accounting firms, to successfully transition its customers to electronic invoicing, which will be mandatory for all companies in France from 2024.
LIBEO AND BNP PARIBAS: A SMOOTH TRANSITION TO ELECTRONIC INVOICING
The bank's customers will benefit from Libeo's technology, guaranteeing an intuitive and seamless user experience, but also from early and simple compliance with the e-invoicing reform. Additionally, they will benefit from instant payment through the integration of BNP Paribas' dedicated API in Libeo. This simplification of processes to improve performance comes with a promise of security and peace of mind.
A MAJOR PARTNERSHIP IN THE EUROPEAN BANKING WORLD
London, 17 January 2023 - As electronic invoices will be mandatory for most business transactions in France as of 1st July 2024, BNP Paribas is anticipating this new regulation by integrating the Libeo invoice management tool into its ecosystem of services.
With this partnership, BNP Paribas’ business customers will be able to receive their electronic invoices, manage and pay them in Libeo, leveraging BNP Paribas’ payment technology. Notably, this is thanks to the integration of the BNP Paribas instant payment API within the tool.
“This partnership allows BNP Paribas' corporate customers to benefit from both a leading banking offer in Europe coupled with one of the most efficient and innovative electronic invoice management solutions on the market. Together, we are joining forces to enable business owners to remain efficient and competitive in their activities”, says Marc Espagnon, Head of Payments & Cash Management at BNP Paribas.
“The transition to electronic invoicing is a revolution to be co-produced, by working with key players to create the best solution for the end user. Banks and technological players have a crucial role to play so that companies can benefit from a painless switchover, in a short timeframe, while getting the maximum benefits, such as a reduction of unpaid invoices and administrative burden. It's in these areas that we act, with the invaluable support of BNP Paribas", adds Pierre Dutaret, CEO & co-founder of Libeo.
Libeo, which has placed the support of business managers, CFOs and accountants at the heart of its mission since it was founded in 2019, thus displays a competitive advantage on its strategic roadmap by reaffirming the company’s ambitions for e-invoicing on the one hand, and instant payments between companies on the other.
Since its inception in 2019, Libeo's mission has been to accelerate the digital transition of companies and accountants. Thanks to its unique technology in Europe, Libeo simplifies, secures and improves invoice processing and payment. More than 300,000 companies pay and get paid on Libeo.
Libeo is a pioneer of one-click payment without requiring an IBAN. It is a complete solution that automates the management of financial flows and invoices, payment and bank reconciliation. Libeo is building a certified Partner Dematerialisation Platform (PDP) to manage electronic invoices, which will become mandatory on 1st July 2024 for all French companies, in partnership with Docaposte. Libeo has raised €26 million from DST Global, Serena, LocalGlobe and Breega partners, and benefits from the EU Horizon 2020 R&D program (agreement n°876518).
For more information, visit www.libeo.io - LinkedIn.
ABOUT BNP PARIBAS
BNP Paribas is the leading bank in the European Union and a major international banking player. It is present in 65 countries and has nearly 190,000 employees, including nearly 145,000 in Europe. The Group holds key positions in its three main operating divisions: Commercial, Personal Banking & Services for all of the Group's commercial banks and several specialised businesses, including BNP Paribas Personal Finance and Arval BNP Paribas; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. With a solid, diversified and integrated business model, the Group supports all its clients (individuals, associations, entrepreneurs, SMEs, large corporations and institutions) to help them achieve their goals by offering them financing, investment, savings and protection services. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group also deploys its integrated commercial banking model in the Mediterranean basin, Turkey, Eastern Europe and the West Coast of the United States. A leading international banking player, the Group has leading platforms and businesses in Europe, a strong presence in the Americas, and a solid and fast-growing presence in Asia-Pacific.
BNP Paribas implements a Corporate Social Responsibility approach in all its activities, enabling it to contribute to building a sustainable future, while ensuring the Group's performance and stability.