Italian bank Intesa Sanpaolo SpA said Jan. 8 that it partnered with U.S.-based specialty finance firm Orbian Corp. to strengthen supply chain customer support and make managing working capital more efficient via a new digital confirming platform.
The platform is a tool that can be used by companies for receivables financing, and is designed to strengthen the relationship between manufacturers and their suppliers. It will allow suppliers to access credit faster and more easily.
Intesa Sanpaolo added that the platform will also save time and reduce risk, consequently making suppliers more competitive.
The platform will allow international confirming and will reach suppliers in over 50 countries, the lender said.