Intrum Justitia enters strategic partnership with Swiss Post
Swiss Post, via its subsidiary PostFinance, has established a company
that will offer Swiss enterprises a new product that includes accounts
receivables management, Prefinancing and payment guarantee. The product,
“Factoring Plus” is new to the Swiss market and is available from the
beginning of 2011. Intrum Justitia is partnering with PostFinance and
will be providing credit worthiness checks and payment guarantee.
The new subsidiary, Debtors Service Ltd, will offer companies
headquartered in Switzerland a new product combining accounts receivable
management, preliminary financing and payment guarantees. Accounts
receivable management includes creditworthiness check, accounting and
reminders. Prefinancing means that business customers receive up to 90%
of the invoice amount shortly after the invoice has been sent to their
end customers. Payment guarantees preclude accounts receivable losses,
i.e. losses arising from unpaid end customer invoices.
“Factoring Plus combines payment transaction and corporate financing
services. Factoring Plus will help strengthen PostFinance's position as
the number one payment services provider in Switzerland,” says Beat
Witschi, Head of Products at Post Finance
Intrum Justitias will take responsibility for providing credit
worthiness checks and payment guarantee to the clients of Debtors
Service Ltd.
“Payment guarantee is a concept that we have offered clients in
Switzerland for many years, however, not as a part of a larger concept
like Factoring Plus. By having a partner like Intrum Justitia to
guarantee the money, the client will decrease its financial risk and
improve cash-flow, highly important for many companies. I am very proud
to be able to enter this partnership agreement with Swiss Post”, says
Thomas Hutter, Regional Managing Director of Intrum Justitia Central
Europe.
Factoring Plus is particularly well suited to online shops and companies
which offer invoicing services and want immediate access to outstanding
liquidity. Examples include telecoms providers, water and electricity
companies, and Swiss SMEs from various industries.
“Intrum Justitia is providing a wide variety of value-added services
within credit management and financial services. Years of experience
within credit management has enabled us to compile extensive information
about many markets in Europe and thus enabling us to offer innovative
services like payment guarantee. The new partnership with PostFinance is
a great example of that.”, says Lars Wollung, President and CEO of
Intrum Justitia.
For further information, please contact:
Lars Wollung, CEO and President, Intrum Justitia
Tel: +46 8 546 102 02
Thomas Hutter, Regional Managing Director, Central Europe, Intrum
Justitia
Tel: + 41 (0)44 806 56 56
Annika Billberg, IR & Communications Director, Intrum Justitia
Tel: + 46 8 546 102 03
Mobile: + 46 702 67 97 91
E-mail: a.billberg@intrum.com
