AMFS announces partnership with efcom and Software Group

By Leandra Monteiro

Factoring FinTech company Advanced Mobile Factoring Solutions – AMFS signed a partnership agreement with еfcom and Software Group to enable financial institutions with an end-to-end factoring platform, which will help companies of any size in the global supply chain to have a 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 digitise the supply chain finance process. Already adopted by some of the world’s largest financial institutions, the platform is helping them grow factoring client bases and volumes, while keeping operational and credit risks in control.

mFactor connects all the parties, processes and systems of a bank’s factoring business into a vibrant, seamless and efficient digital ecosystem. Built with a digital-first approach, scalable and extensible, the solution is perfectly suited for the needs of any business – from SMEs to large corporations. It has proven to make factoring and supply-chain finance 10 times faster, 5 times more cost-effective and 3 times safer compared to analog factoring processes and is fully compliant with the security requirements of Tier-1 financial institutions.

ef3/efX by еfcom are full-fledged core factoring platforms, integrating core receivables finance functionalities for domestic or international full-service factoring, in-house factoring, supply-chain-finance and many more. The ef3 and efX backend systems connect via Web-Services to AMFS’ mFactor allowing efcom-clients to now operate from anywhere, anytime and from all devices with the best user experience (UX), highest productivity and performance available in the market while guaranteeing maximum security & safety features using technologies such as AI and blockchain, Made in Germany.

Software Group is a global technology company specialized in digitalization and integration solutions for the financial industry. Through its Digital Banking Platform and customer-centric solutions it has helped more than 200 financial service providers across the world successfully go through digital transformation, extending their outreach and improving efficiency.

The strategic plan of the partners involves increasing the adoption of mFactor in mature European markets as well as expanding the offering to other markets and supporting financial institutions that wish to launch factoring business by providing Factoring as a Service.