Successful implementation of Lendscape APIs allows Société Générale Factoring to deliver improved digital client experiences, new products, credit and data features
9th September 2021 – Société Générale Factoring, the subsidiary of Société Générale dedicated to factoring, and HPD 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 HPD 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 HPD 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 HPD 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.”
Societe Generale Factoring is the factoring subsidiary of the Societe Generale Group. Over 40 years of expertise in short-term financing, Societe Generale Factoring has a rapid-response in receivables and supply chain finance, with a scope of intervention in over 40 countries. We are one of the Business Entities of the Global Transaction Banking (GTB) division of Wholesale Banking present in more than 50 countries, which regroups the activities of factoring, cash management, correspondent banking, international trade financing and associated exchange services.
Societe Generale Factoring established its international development via the Societe Generale Group’s network but also thanks to its membership of the Factor FCI network (Factor Chain International, 400 members in over 90 countries).
In 2020, Societe Generale Factoring purchased 56,6 billion euros of invoices across all sectors, 51% of invoices managed are international.
About HPD Lendscape
HPD Lendscape is the world’s leading technology vendor for all forms of secured finance.
With over 45 years of experience and in-depth industry understanding, our dynamic team has designed, developed and delivered secured lending technology to over 50 markets and some of the worlds’ most prestigious banking and financial services institutions.
Our secured lending platform, 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.
Lendscape is currently operated by over 150 lenders across the UK, EMEA, North America, APAC, and Sub-Saharan Africa.