CGA, the French factoring subsidiary of Société Générale (SG), said that it has finalised a deal to provide factoring services to Air France.
“Through close dialogue and cooperation, CGA was able to tailor its services to suit Air France’s needs, offering non-recourse factoring up to an agreed amount of €250m,” it added in a statement.
CGA described the operation as a new step in the close relationship between SG and Air France and showed the will of SG to support its clients and their needs by offering tailor-made solutions and innovative services.
CGA provides factoring services to around 4,600 clients in France and elsewhere in Europe.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
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