Many financial service providers are currently focusing on digital onboarding and how to transform digital prospects into happy and long-term loyal customers.
The solutions available on the market are often used in the B2C environment for private customers, but there are many financial service providers whose business models are B2B-heavy and whose customers are therefore purely commercial in nature. Framework agreements or credit lines are often concluded with these customers, which have to be reviewed regularly. However, a fully digital contract conclusion with all the necessary process steps also makes sense for individual transactions.
We offer a fully automated, digital process for all of these requirements – this automation is particularly valuable for business models in which many business partners are taken on board in a short space of time.
Entry of master data
In order to allow further processing of the application process and subsequent processing of the follow-up transaction, customer-related details such as bank details, any desired amount of the line or other customer-specific entries must be entered. The solution offers appropriate convenience functions for this, so that these entries can be made efficiently.
Upload documents
If the customer needs to provide additional documents (balance sheets, BWA, powers of attorney, etc.) for their application process, they can do this intuitively via an integrated upload function in the form of a web or app upload.
Generation of the contract document
Once the transaction has been approved by the financial services provider, the contract document is generated dynamically and made available to the customer digitally for viewing.
Legitimation
Since the GWG requires the contracting parties or the persons signing the contract to be legitimized, our solution offers a variety of certified procedures. In addition to the analogue method (Post-Ident), digital methods (Video-Ident, Ausweis-Ident, Bank-Ident, Auto-Ident) are also used to implement a completely digital process without media discontinuity.
Qualified electronic signature
Once the business partners have been legitimized, the contract can be signed digitally. Depending on the regulatory requirements for the transaction in question, an electronic or qualified electronic signature can be used.
Focus on the essentials
Only decisions that cannot be made automatically require the intervention of a clerk. To this end, the application is enriched with all the necessary information and presented to the processor in a transparent manner.
Integrated document processing
Incoming documents can be broken down into their constituent parts and processed. There are predefined sets of rules for checking documents and feedback from external providers.
Automated retrieval of credit reports
The solution aggregates information from numerous credit agencies (e.g. Creditreform, SCHUFA B2B, etc.) via an integrated Inquiry Hub and prepares it graphically for the factoring provider's risk assessment. Additional information such as register documents are attached to the application to be checked as PDF documents.
Analysis and preparation of borrower units/risk groups
By analyzing the company, all necessary information is prepared and corresponding borrower units or risk groups are generated and displayed in a graphical overview.
Extraction of beneficial owners
In the course of a fully automated check, the beneficial owners of the relevant companies are identified and assigned to the company as independent partners, in addition to interlinking information.
Checking sanctions, PEP and embargo lists
The identified persons are automatically checked against the sanctions, PEP and embargo lists defined by the factoring provider. Any hits are checked and processed via a dedicated compliance module.
Rule-based risk assessment in accordance with the financial service provider's policy and approval of lines
An automated decision on the application is made on the basis of all structured information. The factoring provider's policy used for this can be fully configured via the integrated decision engine.
The solution can either be used stand-alone or integrated into existing customer systems.
With the help of our solution, analog processes can be completely dispensed with in this area. The use of resources by the financial services provider is limited to checking special cases or so-called yellow cases.
After onboarding, the partner, including all information, can be transferred to an existing ERP system via a standard interface. The follow-up business can then be processed automatically there.
The solution offers maximum efficiency in all work and process steps - from application to receipt, processing and completion.
Our solution offers effective fraud prevention and improved scoring thanks to comprehensive internal and external data.