Intesa Sanpaolo launches international factoring platform in Serbia
Relying on the international experience and expertise of the parent Intesa Sanpaolo Group, Banca Intesa pays special attention to continuously monitoring trends, improving existing products and services, and introducing new ones, as well as advanced practices on the domestic market.
One of the latest examples is the launch of Confirming, a new digital factoring platform developed by Intesa Sanpaolo. This new platform, which is a unique solution for financing international supply chains, enables suppliers (exporters) that operate in Italy, Romania, Hungary, Slovakia, Slovenia, Albania and Serbia to connect online and sell receivables to buyers located in the aforementioned countries without recourse basis. The system will soon expand to include Croatia and Bosnia-Hercegovina. These countries, which operate within Intesa Sanpaolo’s International Subsidiary Banks Division (ISBD), are launching the platform after Italy, where this system already 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 while eliminating the risk of non-payment. At the same time, the bank becomes a partner in the supply chain, which raises the level of trust for both buyers and suppliers.
The digital Confirming platform optimises liquidity management for buyers and ensures fast payments to suppliers, which reduces delay-related costs for both parties while eliminating the risk of non-payment
“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 to 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 this 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,” says Predrag Milenović, Head of Corporate Division and an 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 of central and southeast Europe where we operate,” says Giuseppe Ferraro, Head of the 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 in which both large and small businesses play crucial roles in supporting the economy.” Thanks to the introduction of the Confirming platform on additional markets, Banca Intesa is becoming an important partner in the interregional commercial value chain, which will bring direct benefits to all Banca Intesa clients.