Bondaval Announces Exclusive Agreement with FTSE 10 Company, BP
The situation – B2B Credit providers can’t keep up
One of the oldest and most well-established energy businesses, BP remains at the forefront of innovation. Their credit department uses a suite of digital and automated processes to safely extend credit to tens of thousands of business customers around the world.
BP's credit team found existing insurance and collateral-based security instruments time-consuming, expensive and capital inefficient to put in place as many B2B credit providers struggled to keep pace with their pace of innovation. Bondaval changed this.
Bondaval enabled us to support our clients in a more efficient manner while offering even better protection to our balance sheet, all delivered through their simple and intuitive technology.
The solution – Smart payment security built for blue-chips
Delivering 100%, non-cancellable payment security in real-time, Bondaval have given BP total balance sheet protection, whilst streamlining their existing credit procedures.
Bondaval empowers blue-chip companies like BP to move at the speed their business customers expect. BP’s credit managers can secure, amend, renew and make claims in real-time whilst, all the time, having complete oversight and control of all credit risk.
We’re thrilled to be working with BP. It's a real endorsement of the value our product offers blue-chip companies. MicroBonds and our accompanying platform offer companies like BP and their clients significant improvements in efficiency, security and, ultimately, are beneficial to their bottom line. We’re looking forward to a successful relationship with BP for years to come.