Intesa Sanpaolo detailed release - Intesa Sanpaolo Bank
INTESA SANPAOLO JOINS FORCES WITH ORBIAN TO CREATE A NEW INTERNATIONAL PLATFORM TO SUPPORT SUPPLY CHAINS - The technology improves working capital management between suppliers and lead suppliers through receivables financing
Milan, 8th January 2019 - The Intesa Sanpaolo Group teams up with Orbian, one of the leading independent companies providing international Supply Chain Finance market support to global clients, to offer its customers an innovative solution for receivables financing. The parties have entered into a technology partnership that allows for more effective working capital management. Through the new confirming platform, Intesa Sanpaolo will be able to offer a flexible and inexpensive tool for receivables financing to supply chain stakeholders.
Through confirming, the relationship between a lead manufacturer and its suppliers is strengthened, making it easier and faster for suppliers to access credit. This digital platform also saves time and reduces risk, making suppliers more competitive. Confirming provides coverage for global supply chains, reaching suppliers in over 50 countries. The partnership with Orbian allows the Intesa Sanpaolo Group to strengthen its support of customers. Notably, the platform can meet suppliers’ highly diverse needs by integrating with the customer's management software and enabling interface customisation, ensuring maximum product flexibility. "Our greatest satisfaction is to create solutions for companies that are practical tools to support growth and internationalisation in a market where borders are increasingly less defined. Our mission is to promote innovation and competitiveness by generating value with and for them over the long term", said Teresio Testa, General Manager of Mediocredito Italiano and Head of the Companies Sales & Marketing Department of Intesa Sanpaolo.
Stefano Favale, Head of the Global Transaction Banking Department of Intesa Sanpaolo, added: "Through the agreement with Orbian, Intesa Sanpaolo is able to provide a comprehensive service to its customers. With International Confirming, Intesa Sanpaolo expands the range of products and services it offers to Italian and foreign companies and their supply chains, at a time when the potential offered by supply chain finance is still largely untapped".