Banca Sella and Workinvoice Companion to Construct Fintech Companies for Corporates

Stated to be one of many first open banking partnerships in Italy, Banca Sella and Workinvoice have introduced a partnership to develop end-to-end digital monetary providers for corporates.

In accordance with a be aware from the corporate, Workinvoice will combine digital merchandise for corporates, like providers for working capital and factoring, into Banca Sella’s platform. The collaboration between Banca Sella and Workinvoice will present the financial institution’s company prospects with extra handy options f0r accessing capital. Factoring is predicted to be the primary service provided which is able to permit firms to achieve improved liquidity of their fee cycle.

This can be adopted by a “digital reverse factoring service” for provide chain financing and can be out there to medium-sized firms (income of €50M to €300M).

Workinvoice has developed a system that’s solely APIs based mostly that permits for a continuing dialogue with the platform offered by Banca Sella, in order to supply the financial institution’s prospects quick, digital providers and a easy, intuitive expertise.

Doris Messina, Head of Digital Transformation and Advertising and marketing at Banca Sella, commented:

“Banca Sella was the primary Italian establishment to understand the worth that open banking may generate for purchasers. Due to this fact, this partnership with the Fintech firm Workinvoice is a vital a part of our innovation course of. Collaborations of this sort will make the distinction sooner or later and can permit us to supply much more speedy and efficient options, that are based mostly on the shoppers’ wants and seize the alternatives which might be made out there by technological innovation.”

Matteo Tarroni, CEO and co-founder of Workinvoice, mentioned the partnership with Banca Sella, is a good improvement for Workinvoice and for Italian corporates.

“Banca Sella’s historical past delivering the very best providers for his or her prospects offers Workinvoice a market main accomplice to scale greatest in school digital monetary options, and, most significantly, offers corporates one other software to handle their evolving wants. It additionally represents an extra step within the improvement of our technique in embedded finance, that’s the integration of fintech providers into the supply of economic establishments or corporates. The truth is we now have already made out there actually digital monetary providers to the shopper base of CRIF Group (the main enterprise data firm in Italy) and EnelX (the innovation division of the main Italian utility).”

Tarroni defined that embedded finance has solely just lately entered Italy however they strongly imagine in a majority of these providers.