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Societe Generale Factoring, the factoring subsidiary of the Societe Generale Group, has teamed up with secured finance technology specialist HPD Lendscape to develop a bespoke client-facing web portal, marking a significant step forward in its digitalisation strategy. The lender has implemented Lendscape’s API framework to deliver improved client experiences, new products, and credit and data features.

By using HPD Lendscape’s technology and its micro-service solutions, Societe Generale Factoring says it is able to deliver value-add online experiences to its factoring and supply chain clients, including professionals, SMEs, non-profit organisations and corporates. This will enable a more customised approach, and the company will also be able to take further advantage of Lendscape’s capabilities that support supply chain finance on-boarding.

The bank has, for example, recently launched a purchase order finance solution to enable clients to receive finance in advance of invoices being raised.

“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,” stated Jonathan Croft, CIO at Societe Generale Factoring (pictured above). “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 two companies had to act as one team to deliver this initiative. The combined business and technical resources from both organisations adopted a collaborative approach that followed agile principles.

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Commenting on the project Kevin Day, CEO at HPD Lendscape, said: “Forward-thinking organisations like Societe Generale 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 Societe Generale Factoring team that transcends traditional customer-supplier relationships.”

In 2020, Societe Generale Factoring purchased €56.6 billion of invoices across all sectors, and 51% of invoices managed are international.

HPD Lendscape’s secured lending platform is Landscape’s currently operated by over 150 lenders across the UK, EMEA, North America, APAC, and Sub-Saharan Africa.  Lendscape, supports a range of working capital financial solutions such as factoring, invoice discounting, supply chain finance, asset-based lending as well as many other forms of specialist finance. It enables lenders to consolidate systems, reduce risk and engage digitally with customers, buyers and suppliers, all while increasing efficiency and reducing administration.