Société Générale Factoring advances digital strategy

Société Générale Factoring, the bank’s subsidiary dedicated to factoring, has announced the launch of its client-facing web portal.

The investment bank has aligned a new API framework from secured-lending platform vendor Lendscape with its “open factoring” scheme.

The new portal enables value-add online experiences to its factoring and supply chain clients - including professionals, SMEs, non-profit organisations, and corporates.

The roll-out also allows the organisation to use Lendscape’s capabilities that support supply chain finance on-boarding.

“We have been keen to advance our digital agenda whilst being able to meet client needs, particularly during this period of Covid-19 and beyond,” said Jonathan SL Croft, chief information officer at Société Générale Factoring. “This has been evidenced by the bank’s recently launching a purchase order finance solution to enable clients to receive finance in advance of invoices being raised.”

Croft added: “Having a flexible core platform, augmented by our own in-house technology, enables us to be agile and delivery new value-add business requirements.”

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