3 December 2019
Press release: TreasurUp partners with KBC
TreasurUp has signed a contract with the Belgian KBC Group. TreasurUp offers a white-label treasury platform. KBC is the third major bank to work with TreasurUp, following successful partnerships with Rabobank and the Finnish OP Financial Group.
The partnership with KBC will start off with a completely new online foreign exchange environment, accessible through web and mobile, which KBC will offer to its medium-sized corporate clients. The bank sees great value in the platform’s ability to apply hedging strategies which their corporate clients can benefit from. If the launch proves successful in Belgium, the partnership may grow into international expansion within KBC Group.
KBC and TreasurUp strive for the same positive response as from treasurers and CFO’s from similar corporate users in the Netherlands and Finland. “The fast pace of innovation that TreasurUp offers is unique and specifically tailored to corporate end-users. This is something the bank increasingly seeks in its partners,” according to KBC.
Automatische indekkingstool uit proeftuin Rabo sluit meer klanten aan … https://t.co/9LKpaAgPc3
— Rutger Betlem (@betlem) December 3, 2019
TreasurUp, previously known as Easytrade, is a venture of Rabobank. The founders were one of three winning teams of the bank’s global “Moonshot” innovation campaign in 2016. Since then, it has developed into an integrated platform for online treasury insights and execution initiation that can be implemented by banks for their corporate users around the world.
TreasurUp offers online foreign exchange hedging and is developing new modules on foreign exchange payments and liquidity management and assert base finance. “TreasurUp has proven to meet a clear demand in the market. Nowadays, we are talking to the largest banks around the world and they really like our approach and the proven results of our platform. We are about to spin out from the bank. As an independent entity we believe we can even move faster, which is necessary in this market”, according to Niels van Daatselaar, CEO of TreasurUp.
KBC Group N.V. is a Belgian universal multi-channel bank-insurer that focuses on private clients and small and medium-sized enterprises in Belgium, Ireland, Central Europe and South-East Asia. KBC was formed in 1998 after the merger of two Belgian banks (Kredietbank and CERA Bank) and a Belgian insurance company (ABB Insurance).
Its network consists of 1,400 bank branches, insurance sales via own agents and other channels, and various electronic channels. KBC’s core markets are Belgium, the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland. It is also present, to some extent, in other countries. The group currently has 42,000 employees.