The auditing and consulting company KPMG has signed a cooperation agreement with the Frankfurt-based fintech company Traxpay, which has developed a B2B payment and financing platform in combination with blockchain technology. KPMG will from now on advise financial institutions on the implementation of Traxpay software and the relevant adaptation of internal processes. In addition, KPMG offers related training and client testing services.
Sven Korschinowski, Partner of KPMG in the Financial Services division, said: “The new strategic collaboration between KPMG and Traxpay allows us to provide common solutions and services for the benefit of both sides. Banks and their business customers will be able to benefit from this collaboration.”
Markus Rupprecht, founder and CEO of Traxpay AG: “KPMG advises financial institutions and corporates, and therefore understands the challenges on both sides. Our platform is a successful example of great cooperation between fintechs and banks within the framework of the digitization initiatives of the corporate customer business. Banks can strengthen their customer relationships and open up new commission income.”
Traxpay offers a secure digital solution on a cloud-based platform, to handle financial transactions in the B2B environment. These include the automatic exchange of invoice data between business partners and the management of payment amounts until the fulfillment of all terms of contract. In addition the Traxpay platform offers flexible financing options for accounts receivables.