Coface and Credit Agricole sign a distribution agreement to accompany corporates in their international development
With this agreement, Crédit Agricole will be able to distribute Coface’s credit insurance products to its corporate clients that are involved in international trade and willing to secure their treasury.
The inflation and the economic slowdown of the last twelve months have led to a deterioration in payment behaviour in most of the world's economies. Furthermore, small Medium-size companies are the ones that have experienced the biggest increase in working capital requirements lately. In such an environment, the risk of late payment or non-payment is a major source of uncertainty for company executives.
The solutions designed by Coface and which will be proposed by Crédit Agricole's Regional network in France, are particularly well suited to small and medium sized companies that are planning to grow internationally and develop their business outside of France. They allow them to identify risks of default that could lead to unpaid invoices from their clients, and protect companies by paying an indemnity in case of a loss and by collecting debts. The services also include financial intelligence and risk assessment by country, sector, and company, so that corporates have access to qualified, cutting-edge information that enables them to focus on the most solvent segments and customers.
This new service enhances the range of international trade solutions provided by Crédit Agricole to its small & medium-sized companies clients, notably those wishing to conquer new markets or set up business abroad.
Within Crédit Agricole, specialized sales teams and over 850 corporate account managers provide day-to-day support to more than 84,000 corporate customers.
“Crédit Agricole wants to step up its support for its enterprises customers who want to develop their activity abroad. In an economic environment marked by many uncertainties, helping our clients to secure their international business is at the heart of our role as a major banker deeply rooted in the territories.” explained Claire-Lise Hurlot, Head of the Customer Project of Crédit Agricole S.A.
"We are pleased to now be able to support the corporate clients from Crédit Agricole that are willing to expand internationally, thanks to our risk management expertise and the strength of our international network. Coface has over 700 risk experts worldwide, and we are able to accompany companies in nearly 200 countries with flexible solutions tailored for SMEs", said Carine Pichon, CEO of Coface in Western Europe.