We celebrate our 20th anniversary!
Congratulations on the 20th anniversary of PB Factoring GmbH, a true success story. Michael Menke and Monika Loock-Weber were the founding members of this company, which in "only" 20 years has become the market leader in Germany in B2B factoring / accounts receivables purchasing.
First as a subsidiary of Deutsche Postbank AG and now as a subsidiary of Deutsche Bank AG and since 2020 as part of Trade Finance & Lending of Corporate Bank. In 2020, with only 90 employees, the company purchased receivables with a volume of EUR 41.1 billion and processed around 17 million individual receivables via its industry-leading platform.
The innovative product solutions, such as finance factoring (ABS Light), the approach to offer liquidity, risk management and balance sheet optimization by means of one solution, the inclusion of sustainability criteria and the development of real time solutions in this segment show the wide range and the growth potential. The prized asset is the team supporting the two managing directors Dinko Mehmedagic and Michael Menke and the seamless cooperation with Trade Finance and Relationship Management teams of Deutsche Bank and Postbank.
We intend to raise the bar for the future, the topic of digitalization and automation has been high on the agenda for some time, and in the last 12 months we have once again significantly intensified our efforts. We launched our new customer portal in December 2020, we launched our own homepage for the first time since the middle of the year, we want to introduce real-time solutions in the area of debtor (debtor risk) management by 2022 and a digital E2E process for customer onboarding and the credit process. Our sights firmly set to expand into various European countries.