BankWest launches Invoice Discounting product
(6 December 2006 – Australia) BankWest is rolling out an Invoice Discounting offering to its business banking customers seeking non bricks and mortar secured financing.
The product has previously been available to the larger business segment through HBOS Australia's asset finance division, Capital Finance.
HBOS national manager for Invoice Discounting Peter Fitzpatrick said distributing the product through BankWest would enable the company to target a larger customer base.
"Businesses are looking for different forms of finance as they try to reduce their exposure to rising interest rates. We offer Invoice Discounting to businesses who want to reduce payment terms and fund business growth from their receivables by accessing a line of credit linked to the value of their trade debts," he said.
"We don't want businesses restrained by the inflexibility of traditional funding means. Our service helps our clients free up their capital, take the strain off their cash flow and spend more time chasing new business instead of invoices," Fitzpatrick said.
He said HBOS was a market leader in invoice discounting and factoring in the UK with a business almost as large as the Australian market combined.
"We use our local knowledge to tailor our product to the Australian market but we also draw on HBOS' overseas experience to bring in some fresh and innovative features," Fitzpatrick said.
HBOS national manager for Invoice Discounting Peter Fitzpatrick said distributing the product through BankWest would enable the company to target a larger customer base.
"Businesses are looking for different forms of finance as they try to reduce their exposure to rising interest rates. We offer Invoice Discounting to businesses who want to reduce payment terms and fund business growth from their receivables by accessing a line of credit linked to the value of their trade debts," he said.
"We don't want businesses restrained by the inflexibility of traditional funding means. Our service helps our clients free up their capital, take the strain off their cash flow and spend more time chasing new business instead of invoices," Fitzpatrick said.
He said HBOS was a market leader in invoice discounting and factoring in the UK with a business almost as large as the Australian market combined.
"We use our local knowledge to tailor our product to the Australian market but we also draw on HBOS' overseas experience to bring in some fresh and innovative features," Fitzpatrick said.
Subscribe