This week, Germany’s S-Servicepartner and Austrian Raiffeisen Bank International (RBI) completed a pilot transaction using the Marco Polo trade finance network.
The transaction involved receivables financing, for the trade of pharmaceuticals between pharma manufacturer Dr August Wolff and Austrian pharma wholesaler s.a.m. Pharma Handel. The savings bank Sparkasse Bielefeld and RBI represented the businesses in their respective countries.
S-Servicepartner is a back-office service provider for the majority of Germany’s saving banks and enables them to access the Marco Polo network. The firm is currently testing the Marco Polo network with select banks and their medium-sized customers. Until now, most pilots over Marco Polo have been carried out by large enterprises.
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