Francesco Giordano

Italian bank UniCredit has entered into a collaboration with Italy-based fintech FinDynamic with an aim to upgrade its working capital offering for corporate clients. Apart from that, it has also acquired a minority equity stake in the fintech.

Francesco Giordano, UniCredit’s Co-CEO of Commercial Banking for Western Europe, said: “UniCredit is strongly committed to developing innovative and efficient solutions for its clients. As part of this, we are collaborating with selected fintechs in order to improve our corporate client offering and meet changing client needs. We believe that the service offered by FinDynamic is the right fit for our clients’ and their suppliers’ working capital needs in the current market environment, providing a true value-add for all        parties.”

According to the fintech, FinDynanimc offers discounting programs and its solution allows both the buyers and suppliers with an automatic view of invoices and enables them to select approved invoices with ease.

Enrico Viganò, FinDynamic’s Founder and CEO, said: “This is a very important partnership for us. It consolidates our image and gives further authority to our Platform, which is the most innovative in the field of Supply Chain Finance, helping to guarantee the strong growth and development of FinDynamic. UniCredit’s investment in us confirms the Bank’s leadership in Italy in identifying and developing innovative services for corporate customers.”

UniCredit is a pan-European commercial bank and offers its clients both local and international expertise by providing access to market-leading products and services in its 14 core markets through its European banking network.

by Megha Bhattacharya
Market Analyst at IBS Intelligence