Credemfactor: agreements with Finwave and Modefinance for the development of supply chain finance management services and deliberation of fostering dossier.

 

30 gennaio 2025 - Credemfactor, a Credem Group company specialising in factoring led by General Manager Gabriele Decò, has signed two agreements with Finwave, a FinTech Company specialising in vertical solutions for the financial market, and Modefinance, part of the TeamSystem Group, which is a Rating Agency (CRA and ECAI) specialising in creditworthiness assessment and in the development of tech solutions for the analysis and management of credit risk, for the development of services for the management of supply chain financing and  delibering of fostering practices.

More specifically, the partnership with Finwave has enabled the launch in recent months of a new financial product called confirming, which, within a production chain, allows the Supply Chain Buyer company to give a mandate to a financial operator (specifically Credemfactor) to pay its invoices on the due dates. This service enables corporate customers to optimise treasury and payment management, finance corporate liquidity and support their supply chain by strengthening commercial agreements with suppliers. Credemfactor aims to reach a value of EUR 100 million in credit facilities from confirming contracts by the end of 2025.

In particular, the Buyer instructs Credemfactor, through an irrevocable mandate, to proceed with the payment of its future due dates to the suppliers included in the confirmation programme, with the possibility of benefiting from a deferment of its own repayment times for the sums paid on the due date. The service is fully digital and managed through the ‘Fast Factoring Digitale’ platform, which enables the dispatch of the arrangements. Payments in the confirmation programme are managed by Credemfactor, simplifying administrative work. Companies using this service can choose to defer payments according to their liquidity needs and seasonality. Suppliers can access the platform to see in real time which invoices have been recognised and indicated for payment, and can also assign invoices to receive payment in advance. Together with Finwave, the new electronic credit file was also developed, introducing a simpler credit language, increasing internal operational efficiency, decreasing operational risks, and improving the service levels offered to customers, both in the area of preliminary enquiries/deliberations and in the area of finalisation.

In addition, again in the area of credit file management, an automated resolution process dedicated to small business and small corporate companies was implemented with the support of Finwave and Modefinance, with the aim of speeding up and optimising credit decisions. More specifically, it is the first instant factoring product in Italy, designed to reduce the processing time of files and provide answers in a few hours thanks to the integration of Modefinance's expert system of automatic scoring with Finwave's electronic credit file, which supports Credem Group's credit assessments. The innovation ensures a fast, reliable and customer-centric process.

“Since 2020, Credemfactor has launched an important strategic innovation and digitisation plan for its operational processes” said Gabriele Decò, General Manager of Credemfactor. “A first project phase” continued Decò “focused on the realisation of the Fast Factoring Digitale platform to ensure the digitalisation of the entire experience of our customers from the onboarding of the prospect customer, to the contractualisation, up to the digital management of the entire assignor and assigned transactionality. A second project phase saw the full realisation of Credemfactor's innovation plan thanks to the consolidated strategic partnership established with Finwave, a technology services company, and the fintech Modefinance, a rating agency. Thanks to the close collaboration and integration of skills between the Credemfactor and Finwave teams, we have expanded the range of services supporting supply chain finance with Confirming, a new flexible and digital product for the development of supply chains and integrated into the Fast Factoring Digital platform. Subsequently, we successfully implemented an ambitious project that saw the adoption of Finwave's credit evaluation suite integrated with our K4F factoring management software and an automated instant resolution process dedicated to small corporate prospect customers with the support of the automatic scoring models of Modefinance's Tigran platform” concluded Decò.

Angelo Mezzacasa, Corporate Solutions Director of Finwave: “The partnership with Credemfactor, consolidated by years of collaboration, has enabled us to develop a strategic project based on a personalized and flexible approach to the digital transformation of banking processes. Our PEF (Electronic Credit Practice) confirms its effectiveness in being an eccelent tool to support credit assessment.”

Valentino Pediroda, Co-Founder and CEO of Modefinance, commented: "We are pleased to announce this agreement that represents a significant step in the evolution of the sector in Italy. This synergy between Modefinance, Finwave and a reference player such as Credemfactor is a strategic initiative that accelerates and optimizes credit decisions for Italian SMEs. Modefinance, in its dual role as a Rating Agency and a technology company, confirms itself as a technological facilitator for the banking sector, offering advanced tools for risk assessment and the digitalization of financial processes. Through our proprietary Tigran platform, we have integrated an innovative model that allows the factoring business to be simplified and made more efficient, ensuring greater speed, precision and scalability in credit decisions".

Credemfactor was established in 1986 and operates throughout the country thanks to a specialised network of professionals and through the Credem Group's distribution network.

Finwave
Finwave is a FinTech Company specialising in vertical solutions for the financial market and develops end-to-end projects in factoring, consumer credit, leasing, banking, compliance, UTP-NPL. We accompany Credit Institutions, Financial Institutions, SGRs, Funds, Custodian Banks, of any size and organisational complexity, in a modular and scalable digital transformation process, offering constant and customised technical and consulting support. Finwave is part of the Fibonacci Group controlled by Apax Funds and specialised in financial software, with more than 1500 employees and operating in Italy, Spain, Romania, The Netherlands and Mexico.

Modefinance, a TeamSystem Group company - Registered as a Credit Rating Agency (CRA and ECAI) according to EC Regulation No.1060/2009, Modefinance develops AI solutions as a tool to extract value from data, financial and non-financial, in order to assess the financial health and sustainability of companies, banks and financial institutions.