Société Générale Factoring, the subsidiary of Société Générale dedicated to factoring, and Lendscape, a leading international secured-lending platform vendor, today announced the successful alignment of the Société Générale Factoring’s sophisticated “open factoring” environment to the latest Lendscape API framework.
Using Lendscape’s technology and their micro-service solutions, Société Générale Factoring has developed its bespoke client-facing web portal, in fact, which delivers value-add online experiences to its factoring and supply chain clients - including professionals, SMEs, non-profit organisations and corporates.
The successful implementation also allows Société Générale Factoring to take further advantage of 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," states Jonathan SL Croft, CIO 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. "Having a flexible core platform, augmented by our own in-house technology, enables us to be agile and delivery new value-add business requirements."
Strict deadlines and adherence to financial budgets meant the 2 companies had to act as one team to deliver this initiative. Incorporating business and technical resources across Lendscape and Société Générale Factoring, the success of the project hinged on a collaborative approach that followed agile principles.
Commenting on the project Kevin Day, CEO at Lendscape, said, "Forward-thinking organisations like Société Générale Factoring are key to us channelling investments that align to the industry needs and realising value for our customers. I am extremely impressed with how the team worked together to overcome challenges and achieve delivery."
"We anticipate more projects like this in the near future, where people and technology are aligned with a common objective, and we are proud to have championed a way of working with the Société Générale Factoring team that transcends traditional customer-supplier relationships."
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