By Leandra Monteiro
- Advanced Mobile Factoring Solutions
Factoring FinTech firm Advanced Mobile Factoring Solutions – AMFS has signed a partnership agreement with еfcom and Software Group to provide financial institutions with an end-to-end factoring platform, enabling companies of all sizes in the global supply chain to have faster, better and easier access to working capital financing.
The strategic alliance brings together AMFS’ mFactor – the world’s first end-to-end digital factoring solution, and еfcom’s core factoring systems ef3 and efX to fully and seamlessly digitize the supply chain financing process. Already used by some of the world’s largest financial institutions, the platform is helping them grow customer base and volumes in factoring, while keeping operational and credit risks under control.
mFactor connects all parties, processes and systems of a bank’s factoring activities into a vibrant, seamless and efficient digital ecosystem. Built with a digital-first approach, scalable and extensible, the solution is perfectly suited to the needs of any business – from SMEs to large corporations. It is proven to make factoring and supply chain finance 10 times faster, 5 times more cost effective and 3 times more secure compared to analog factoring processes and fully meets the security requirements of Tier-1 financial institutions.
ef3/efX from еfcom are full-fledged core factoring platforms, integrating core accounts receivable financing functionalities for domestic or international full-service factoring, in-house factoring, supply-chain-finance and much more. The ef3 and efX backend systems are connected to AMFS’ mFactor via web services, enabling efcom clients to work anywhere, anytime, from any device with the best user experience (UX), highest productivity and performance available on the market, while maximum security and safety features using technologies such as AI and blockchain, Made in Germany.
Software Group is a global technology company specializing in digitization and integration solutions for the financial sector. Through its Digital Banking Platform and customer-centric solutions, it has helped more than 200 financial services firms around the world successfully implement digital transformation, expand their reach and improve efficiency.
The partners’ strategic plan includes increasing the adoption of mFactor in mature European markets, expanding its offering to other markets and supporting financial institutions looking to launch factoring activities by offering Factoring as a Service.
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