NationsBank Corp. has formed strategic alliances in Canada and Mexico in the factoring business.  It has acquired a 10-percent stake in Factoraje Bancomer, S.A., the factoring subsidiary of Bancomer, S.A., the second largest banking company in Mexico, and it has invested in Accord Financial Corp. of Toronto, the largest factor in Canada.

“We are excited about having positioned the NationsBank factoring group with Bancomer and Accord to greatly enhance our ability to manage export receivables for all of our clients and help them meet their export financing requirements,” said Stewart Long, executive vice president and head of NationsBanc Commercial Corp., the factoring group of NationsBank.

Factors purchase a client’s accounts receivable, then take the risk and responsibility for making collections while performing the functions of the accounting and credit departments.