The company is a German credit institution and part of the Anglo-Australian Greensill Group. The bank was founded in Bremen in 1927 under the name Norddeutsche Finanzierungs-AG, later renamed NordFinanz Bank and operates under its current name since October 2014. Instead of traditional financial products, the fields of deposit and factoring / reverse factoring business as well as the financing of company supply chains and supplier liabilities have since been promoted and expanded.