Intesa Sanpaolo closed a deal with Kyriba, a fintech company specializing in supply chain finance solutions, to make available to the business world theinnovative Dynamic Discouting service, which allows large buyers with excess liquidity to offer suppliers the advance payment of invoices against a discount on the previously agreed price. Dynamic Discounting is a web based software, easy to use and able to dialogue with Erp (Enterprise resource planning) management systems for the automatic updating of company accounts.
The operation with Kyriba fits into the framework of the activities implemented by Intesa Sanpaolo for the enhancement of Supply Chain Program, dedicated to enhancing the Italian production chains, driving forces for the relaunch of the country system, catalysts for development, employment and investments.
“Dynamic Discounting offers buyers the opportunity to optimize excess liquidity cycles and, at the same time, improve company margins, simplify supplier management and integrate flows and payments with their ERPs” – he explains Stefano Favale, Head of the Global Transaction Banking Department of Intesa Sanpaolo -. Companies will be able to access the service directly from the Inbiz platform of Intesa Sanpaolo, whose user experience they already know well and which is confirmed as a digital portal for the 360° management of the relationship with the Bank".
“The agreement with Kyriba is part of the operations we are supporting to accelerate the digital transformation of our Group” – he says Paola Papanicolaou, Head of the Central Innovation Department of Intesa Sanpaolo - "Collaboration with internationally renowned fintech companies, selected through an in-depth analysis process, allows us to constantly expand our advanced digital financial services and therefore to offer our customers increasingly distinctive and innovative solutions".
“Kyriba's partnership with Intesa Sanpaolo opens up new opportunities to offer CFOs and global leaders in treasury management active liquidity management solutions that allow them to better navigate the 'new normal'” – he says Jean-Luc Robert, President and CEO of Kyriba -. We are seeing a growing demand for supply chain finance solutions that help companies optimize liquidity and accompany them towards growth”.
