UniCredit is to take a minority stake in FinDynamic, an Italian fintech start-up offering dynamic discounting programs. The bank will work with FinDynamic to offer dynamic discounting to UniCredit clients as part of its working capital solutions.
FinDynamic’s platform, which allows the buyer and its suppliers to automatically view invoices and choose approved invoices for early payment, is being rolled out to corporate customers in Italy and already counts companies such as Unicomm among its clients.
Enrico Viganò, FinDynamic’s Founder and CEO, described the UniCredit deal as “A very important partnership,” which would, “Consolidate our image and gives further authority to our platform.”
At UniCredit, Francesco Giordano, 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. Today’s announcement is a clear example of this strategy in motion.”
The agreement comes after a similar deal was announced in September 2018 between FinDynamic and BFF Banking Group, a financial services provider to suppliers of the European healthcare and public administration sectors. That partnership began as a discussion within the within the Supply Chain Finance Observatory organised by Politecnico di Milano within the SCF Community.