Digital Factoring platform

Customer

Public group directly controlled by MEF, specialized in supporting businesses and the national economic fabric through a wide range of tools and solutions to support competitiveness in Italy and around the world. For over forty years it has been the reference partner for Italian companies that export and grow in foreign markets. It also supports the banking system to facilitate companies' access to credit with its financial guarantees, with a role strengthened by the extraordinary measures provided for by the Decreto Liquidità.

The Group specializes in supporting Italian businesses, in particular SMEs, which want to grow in Italy and in the global market.

Challenge

In addition to supporting them abroad, with a role strengthened by the extraordinary measures provided for by the Decreto Liquidità, the Client also supports companies in Italy with the aim of helping them strengthen liquidity, resilience and overall competitiveness.

In particular, it wanted to set up the Digital Factoring Platform which represents the new service that allows potential customers to access a wide range of standardized products in a completely digital and dematerialized manner.

Solution

Finwave has made available the new PEF 3.0 Platform connected to the K4F Factoring management system for the complete management of all technical market forms.

The pre-assessment module integrated into the PEF 3.0 module is the tool for analyzing counterparty portfolios, preparatory to an onboarding or creditworthiness assessment activity as part of an electronic credit procedure.

The function allows you to carry out an initial reliability analysis of the subjects examined based on the principle of solvency both at an economic/financial level and on the basis of negative events deriving from external sources.

The analyzes are carried out automatically, with the help of information obtained from the interfaced infoproviders and the risk centre.

The driver used for the classification of the counterparties is a scoring which can be, depending on the needs, the external rating acquired from the infoprovider, to which it is possible to apply one or more specific notchings or a scoring calculated on the specifications provided.

The main features of the module are:

• Loading and evaluation of massive portfolios of assignors and debtors
• Navigation in the scoring system by comparing different subjects and comparing budget indicators
• Possibility of reclassification of the IV Directive budget carried out automatically by the system
• Possibility of setting thresholds for each indicator also for the CR data with related indicators for each subject
• Possibility of centralizing all the information related to each counterparty in a single navigable system
• Historicization of information relating to evaluations with the possibility of navigating them ex post
• Full integration with Finwave's PEF module and WOF Onboarding module
• Scalable and flexible information set to facilitate the integration of new metrics

Results

Thanks to the adoption of the PEF 3.0 module, the Customer was able to benefit from:

1. reduction of processing times through the immediate identification of reliable counterparts
2. reduction of costs deriving from external sources, through specific «LIGHT» calls to infoproviders
3. connection with the WOF (web online factoring) platform for background clustering of supplier portfolios loaded by debtor counterparties (reverse/confirming).

The adoption of PEF 3.0 represents a further step forward for the Group with a view to strengthening its support and oversight in aid of the overall competitiveness of the Italian system.