Norway's largest export factoring company chooses Kind
Kind and Sparebank 1 Factoring have signed an agreement for the full-service branding agency to develop the factoring company's brand. Sparebank 1 is the largest export factoring company in Norway, and one the country's top three factoring companies overall.
'Kind has a very good reputation in the market and has proven, excellent results in terms of creativity and design effect over the years. The design effect that they have created for some of their clients is simply unparalleled.'
Tarjei Rødseth Sales Director, Sparebank 1 Factoring
Factoring in brief
Factoring is easy. In short, it is a financial transaction and a type of debtor finance in which a business sells its invoices to a third party (called a 'factor') at a discount. A business will sometimes factor its receivable assets to meet its immediate cash needs.
When a business, no matter how small or large, joins Sparebank 1 Factoring by sending in its invoices, the bank gets straight to work pursuing the money owed. The client gets 90 per cent of the outstanding amount, usually the next working day. The customer will receive the remaining 10 per cent when the debtor has paid Sparebank 1 Factoring.
It really is that simple.
A part of a leading Norwegian bank alliance
SpareBank 1 is a Norwegian alliance and brand name for a group of savings banks. The alliance is organised through the holding company SpareBank 1 Gruppen AS that is owned by the participating banks. The alliance is Norway's second largest bank with total assets of NOK 625 billion, 352 branches and 6,300 employees. The alliance has its head office in Oslo. The banks in the SpareBank 1 Alliance distribute SpareBank 1 groups' products and collaborate in key areas such as brands, work processes, expertise development, IT operations and system development.
'Unparalleled'
Tarjei Rødseth, Sales Director of Sparebank 1 Factoring, said: 'Kind has a very good reputation in the market and has proven, excellent results in terms of creativity and design effect over the years. The design effect that they have created for some of their clients is simply unparalleled.
'We chose Kind because we firmly believe that they are the right agency to lift our brand to new heights. In the first phase, Kind has conducted a strategic branding process together with us, which will eventually reposition our brand in the market. The next phase, that we are now entering, is to define the conceptual and communicative vision of our company. We are looking forward to a long and fruitful collaboration with Kind.'
'Delighted'
Tom Emil Olsen, CEO, Creative Director and Founder of Kind, said: 'I am delighted that one of Norway's leading financial bodies, Sparebank 1, chose Kind in order to grow a product in which it is leading the field - export factoring. This is a wide-ranging campaign, encompassing print and digital. Our approach has been to emphasise the simplicity of the product, as well as its effectiveness, with a streamlined yet highly effective, distinct identity. The team at Kind is very excited to be working with Sparebank 1.'
