Italy-based Banco Desio has entered a collaboration with Fabrick to support the digitalisation of invoice advance services for small and medium-sized enterprises (SMEs). In a bid to improve invoice advance services for SMEs, Banco Desio signed an agreement with Fabrick, a Sella Group firm specialising in Open Finance, which is set to enable the implementation of an additional channel where companies can upload its invoices independently.

Through this platform, SMEs can request within a digital flow the advance payment of invoices and to have increased visibility of active credit lines and commitments signed with the bank. Moreover, the platform can be accessed from the bank’s website or One-D and One-D-Business, Banco Desio’s app. Companies can consult advances which are displayed on the calendar following their respective deadlines and divided according to the status of the payment. When it comes to the branch side, the Fabrick platform is set to enable increased process efficiency, centring on the difficulties posed by authorisation with the possibility of accessing the document archive that can be leveraged online. According to officials, by working with Fabrick, Banco Desio aims to solidify its digital growth strategy and provide optimised solutions that can serve the needs of customers.

The bank also mentioned its commitment to continuing to improve its business, with the collaboration supporting it in its endeavours. Additionally, representatives from Fabrick underscored that the partnership with Banco Desio highlights the abilities and value that Open Finance can bring to banks and financial institutions when it comes to the digitisation of the offer for end customers. Latest news from Fabrick The end of May 2024 saw Fabrick entering an agreement to acquire finAPI, intending to assist the innovation of European businesses by allowing new Embedded Finance service models.

The transaction was conducted via an agreement with SCHUFA Holding AG, under which Fabrick acquired 75% of finAPI shares, while the remaining 25% was set to stay with the company’s two founders. At that time, by entering the DACH region, Fabrick aimed to expand its presence beyond Italy, Spain, and the UK. .