Factoring solution for connecting buyers and suppliers in the region
Banca Intesa introduced Confirming, its parent group Intesa Sanpaolo’s digital factoring platform, on the Serbian market.
The new platform, which is a unique solution for financing international supply chains, will enable suppliers (exporters) that operate in Italy, Romania, Hungary, Slovakia, Slovenia, Albania and Serbia to connect online and sell receivables towards buyers located in the above-mentioned geographies without recourse basis. The system will soon expand to Croatia and BiH. These countries, which operate within Intesa Sanpaolo’s International Subsidiary Banks Division (ISBD), are launching the platform after Italy, where this system operates successfully, with over 3,000 active companies.
The digital Confirming platform optimises liquidity management for buyers and ensures fast payments to suppliers, which reduces delay-related costs for both parties and the risk of non-payment is eliminated. At the same time, the bank becomes a partner in the supply chain, which raises the level of trust both for buyers and for suppliers.
“By introducing the Confirming platform on the Serbian market, Banca Intesa offers its exporter clients the possibility to digitally sell international receivables from foreign customers quickly, efficiently and without the need to sign additional documentation, enjoying the benefits of faster cash flows and obtaining financing without additional obligations towards the bank. On the other hand, importer clients will be able to sell receivables without the right to recourse to their foreign suppliers, achieve more favourable terms for procurements, and potentially expand the scope of cooperation with their partners. During the time of huge pressure on global supply chains, we are enhancing regional cooperation between buyers and suppliers, supporting the export-import oriented businesses that have the capacity to help increase economic activity in our country,” said Predrag Milenović, Head of Corporate and SME Division and Executive Board Member at Banca Intesa.
“We are committed to supporting our clients’ development, providing them with access to new business opportunities on the markets in central and southeast Europe in which we operate,” said Giuseppe Ferraro, Head of Corporate and SME Department C&SEE – ISBD. “In line with the new dimension of international business, Confirming enables unobstructed transactions and improves the role of international supply chains where large and small businesses play crucial roles in supporting the economy.”
Thanks to the introduction of the Confirming platform on additional markets, Banca Intesa becomes an important partner in the interregional commercial value chain, which will bring direct benefits to all its clients.