API Console
Executive Summary
This Service Domain supports a factoring service for corporate customers enabling them to convert accounts receivable into immediate funds at a discount
Examples of Use
The Bank buys (factors) a batch of a corporate’s customer invoices at a suitable discount to provide short term liquidity to the corporate. The bank processes the subsequent customer payments
Role Definition
A bank offers factoring services to buy a customers’ accounts receivable at a discount to provide short term liquidity. The bank will subsequently process the accounts receivable to recover purchase costs. In cases the bank may factor portions of the accounts receivable to a specialist third party
Related Business Scenarios
Core Business Object
Key Features
- Evaluate the quality and make-up of the corporate’s account receivable
- Price and negotiate the factoring transaction with the corporate
- Process the factoring transaction
- Process accounts receivable for the purchased invoices
- Factor elements of accounts receivable to specialist agencies