“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. We see great value in the platform’s ability to apply hedging strategies which our corporate clients can benefit from. If the launch proves successful in Belgium, the partnership may grow into international expansion within KBC Group. 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 Patrick Roppe, General Manager Financial Markets KBC Group.
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 is the third major bank to work with TreasurUp, following successful partnerships with Rabobank and the Finnish OP Financial Group.
KBC is one of the leading financial groups in Europe. It is a multi-channel bank-insurance group with a geographic focus on Europe, catering mainly to retail clients, SMEs and local midcaps. The group occupies significant, and in many cases leading positions in its core markets of Belgium, Czech Republic, Bulgaria, Hungary, Slovakia and Ireland. The KBC group has also selectively established a presence in a number of other countries and regions around the world.
KBC employs around 42000 staff and caters for more than 11 million clients in its core markets. KBC Group NV is listed on Euronext Brussels (ticker symbol 'KBC').