CGA changes name to Societe Generale Factoring
-
On June 28, 2018, Compagnie Generale d'Affacturage (CGA), the subsidiary of Societe Generale dedicated to factoring, will change its name to Societe Generale Factoring.
By adopting the Societe Generale Factoring branding, the Group's factoring subsidiary strengthens its belonging to the Societe Generale Group. Building on the Bank's awareness, the subsidiary aims to continue to grow and strengthen its position as a key player in the sector.
For Eric Frachon, General Manager of the subsidiary, "Our new name, Societe Generale Factoring, reinforces the identity we have been building for 40 years, based strong values for our customers: the expertise of our employees, the great diversity of our offers, and innovation. "
This change of identity upholds the strategic plan that the subsidiary has set for the next five years, which is based on:
- accelerating its international expansion, in order to consolidate its leading position in Western Europe,
- continued digitalization of its products and services such as 100% online subscription or dematerialization of receivables,
- Increased operational efficiency with the deployment of automated solutions (Robotic Process Automation).
Finally, this strategic plan is supported by a significant strengthening of the teams.
Pascal Augé, President of the subsidiary and Director of Global Transaction & Payment Services, to which the factoring entity is attached, declares: "With Societe Generale Factoring, we now share a single unified brand across all our locations. This gives us more simplicity in our organization and facilitates synergies with all of the Group's activities for the benefit of our customers. "
