Alfa-Bank has completely digitized the customer journey for factoring, abandoning manual operations and paper. This significantly accelerated and simplified access to factoring. The solution is available for users of the digital factoring platform.

The bank has reduced the speed of decision-making on factoring for clients working with the largest companies in the country to 1 business day. The registration conditions have also been simplified: the whole process takes place online in 4 steps. If the client is already working with Alfa-Bank on other products, the questionnaire for considering an application for factoring will be pre-filled, he will only have to check the data and attach the company's documents. After that, the process of analyzing and preparing a commercial offer will immediately start.

The electronic document management (EDM) service has also been modernized - now it allows you to sign any documents necessary for factoring services without resorting to third-party providers. The client can send the document for signing to the bank, as well as to a third counterparty. Documents are signed with an electronic digital signature (EDS) and have legal force.

The solution is actively used to sign a tripartite notice, one of the key documents of factoring transactions. The document is signed between the bank, the client and his buyer. Prior to the launch of the service, notifications were signed on EDM platforms or on paper. Customers had to spend money on access to third-party sites or courier services, and wait from several days to several weeks for signing on paper. This delayed the process of starting factoring services. Now the bank's client fills in the delivery attributes on the digital platform and forms a document, signing it with an EDS, then sends it for signing to the bank and the buyer. At the same time, the client's buyer may not be a client of the bank - he gets access to the digital platform and signs the document using his EDS. The speed of signing notifications has been reduced to 1 day. The service is completely free and secure. All documents are saved in an electronic archive.

Proactive factoring capabilities have been improved, thanks to which customers receive financing without waiting for data on each delivery to be reconciled with customers. The client generates a register of assigned monetary claims in just 2 clicks from the deliveries already confirmed by the buyer. This allows you to receive financing within 15 minutes from the moment the request is sent to the bank. The largest federal retail chains, oil and gas companies, as well as regional players are connected to the service.

Now almost 80% of deliveries transferred for factoring to Alfa-Bank are financed online.

"We understand how valuable time is for entrepreneurs. That is why we are creating technological solutions that allow you to get access to fast financing in a matter of minutes, completely eliminating the need to visit the bank's office," said Leonid Kultygin, Factoring Director of Alfa-Bank.