Press release – Montrouge, 12 May 2022
To provide its clients with further security for banking transactions in international markets,
Crédit Agricole CIB has signed a partnership with Trustpair, a third-party risk management platform specialized in preventing B2B payment fraud as well as process digitization.
An additional service to guarantee the security of transactions
Transfer fraud and cybercrime are major challenges for the financial departments of large corporations, and have multiplied in recent years, particularly due to the digitization of activities and expansion of working from home. According to research conducted by Euler Hermes – DFCG in 2021, two companies out of three have suffered at least one fraud attempt and 14% of the companies concerned estimate the loss at more than €100,000.
Crédit Agricole CIB has selected Trustpair as a partner to offer their clients, active in France and abroad, a risk management solution that validates the identity of third parties – suppliers and clients – who are the beneficiaries of payments, along with the associated bank details, in order to avoid identity theft and payment fraud.
The Trustpair platform makes it easier for finance departments to prevent fraud on a daily basis by allowing them to:
- Ensure a continuous control of the existing third party database, in order to be alerted in real time of any risks, and benefit from risk management dashboards;
- Automate all manual processes controlling third party data, with significant gains in terms of security and time spent;
- Integrate with their own tools and processes through connectors and Application Programming Interfaces (API).
This partnership, which is part of Crédit Agricole CIB’s strategy to continuously develop its Cash Management offer, will allow the Bank’s clients to take advantage of a complete range of services aimed at strengthening the security of their transactions, in addition to all the security, control and traceability tools already available.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2021). Nearly 8,900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank’s clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
For more information, please visit www.ca-cib.com
Press contacts Crédit Agricole CIB :
Trustpair is the next generation third party risk management platform enabling Enterprises to eradicate B2B payment risk while optimizing their procure-to-pay processes and securing third-party relationships
Created in 2017 in Paris, the company has 90 employees, its solution is used by more than 150 large European and American corporates and is now endorsed by a network of first-rate partners made of banks, consulting firms and software publishers.
Web site: www.trustpair.fr
Press contact Trustpair :
Léonore BRIN – email@example.com