Banco Santander has signed an agreement with the Andorran entity MoraBanc, aimed at collaboration in international confirming services.
The confirming service consists of “managing, administering and financing the invoices of international suppliers in a simple, agile and secure way”, as indicated by MoraBanc.
The agreement between the entity chaired by Ana Botín and MoraBanc has been signed through the specialized division Santander Global Transaction Banking (GTB), part of Santander Corporate & Investment Banking.
Thanks to the agreement with Banco Santander, Andorran companies that are MoraBanc clients “will be able to save costs and time by adding an additional source of financing for their supplier, improving the company’s image of solvency and negotiating capacity.”
In compliance with its strategic plan, MoraBanc “joins forces with the best partners in the market, leaders in their activity, to provide solutions to their clients,” according to the Andorran bank. In fact, it has different agreements with Goldman Sachs Asset Management, Cuatrecasas, or Pyrénées.
MoraBanc has affirmed that Santander Global Transaction Banking is a leader in its sector “thanks to its knowledge of the market with more than 27 years in different industries and countries, its continuous search for technology, providing a very efficient management platform and its investment capacity” .
“Collaboration with Banco Santander adds value for Andorran companies that operate internationally, providing more advantages to the already existing confirming service”, MoraBanc stressed.