Finsolutia was authorized by Banco de Portugal to operate as a credit manager in Portugal. This approval represents an important milestone in strengthening the company’s position in the credit servicing market and confirms its ability to operate within the regulatory framework applicable to this activity.
This authorization is also important as it’s going to strengthen the reputation of companies operating within a complex and specific market. For the customers, on the other hand, it’s an exceptional opportunity to reinforce confidence in companies that operate in this area as now they must comply with clear regulations that will protect this relationship.
This decision made by Banco de Portugal recognizes our leadership in the operational model as well as our highest standards of governance, internal control, compliance and protection of all involved parties in these relationships.
According to Bernardo Cabral, Head of Compliance, “this authorization constitutes an important recognition of our compliance and governance. In a more regulated and scrutinized sector each day, operating as an accredited credit manager by Banco de Portugal, is an added responsibility but also a confirmation of our capability to ensure transparent, rigorous and aligned with the highest standards processes. Finsolutia always assumed the protection with banking clients, the operational integrity and fulfilment of the essential backbones of its activities and this authorization reinforces this commitment.”