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FINANCIAL TECHNOLOGY | Staff Reporter, Singapore

BNP Paribas launches online bank account services in Singapore

eStatements provide corporate clients with an electronic statement of their accounts via electronic mail.

BNP Paribas announces the launch of its online bank account statement services -eStatements- for its corporate clients in Singapore. It provides them with an electronic statement of their accounts via electronic mail. It enables instant access to monthly account statements over a secured platform.

Pdf copies will be received by corporate clients in an encrypted electronic email that is password protected. This initiative will also help reduce paper consumption in Singapore. It will be further rolled out to other parts of Asia over the year, starting in Hong Kong and then India.

The recently launched Connexis Supply Chain e-platform is another project within this green initiative. Using innovative technology, this global platform presents both supply chain financing and cash management capabilities. It offers extensible solutions and is fully integrated with payments and reporting.

Today, it is capable of handling 500 000 invoices in one unique data upload, thereby eliminating paper invoice submissions to the Bank.

The EIPP (Electronic Invoice Presentment and Payment) module on BNP Paribas’ Connexis Supply Chain e-platform, is specifically created for corporate clients to go paper-less by focusing on removal of paper based invoices, purchase orders, delivery notes etc., in their existing financial supply chain, from circulation.

These green initiatives are in line with BNP Paribas’ engagement as a responsible Bank in terms of environment as formally stated in the “Commitment for the environment” document published in 2011 and the Group’s Paper Policy, “Consume less, consume better and sort more”, implemented in 2011.

The Paper Policy contains twenty recommendations that are designed to achieve ambitious and dated objectives such as reducing by 10% the amount of paper used per individual customers for marketing documents, statements, letterhead paper and bank transfer slips by 2013 vs. 2010, and 20% by 2015 vs. 2010.

Pierre Veyres, Global Head of Global Transaction Banking, BNP Paribas said, “With our new e-banking suite of tools dedicated to corporate clients, we are engaged in reducing paper exchanges with the double objective to increase efficiency and reduce environmental footprint. With eStatements for instance, we have estimated that it would reduce by close to 130 000 the number of paper statements issued each year in Singapore alone if only 20% of our clients switched to electronic bank statements.”

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