Streamlined workflows and reduced operational costs with fully digital, real-time exchange of information and documents and decisioning automation based on programmable rules
Reduced risk of a data errors and get fraudulent, delayed or lost documents.
Potential to grow revenues, particularly by attracting those SMEs that could not otherwise afford the operational hassle of invoice financing.
Parties can share data and documents in near real time with certainty and cryptographically protected security irrespective of their physical location
Solution is modular with programmable logic and configurable flows such as collecting attestations prior to execution of contract conditions
Ability to connect with payments solution, for immediate transfer of funds for approved invoiced and schedules for due date payments
APIs to connect to ERP or front-end systems to automate data extraction
DLT provides immutable and highly resilient data & document storage with full compliance to EU data protection regulation (and geo-fencing if needed); with full audit trail
HOW IT WORKS
All parties have permissioned and role-based access to DLT, but type of parties and all flows are fully configurable. At each stage of the process (e.g. invoice upload, invoice approval, invoice financing) data is written to DLT in real-time, parties always see the most updated status. Bank can automate payments based on business logic (smart contracts) set up for each program.