Through its new solution, afb Application Services AG offers efficient process workflows for factoring


Munich, 28 October 2015 – afb Application Services AG (afb), a leading European full service provider for the optimisation of financing processes of banks and leasing companies, offers financial services providers and factoring companies a solution for the efficient processing and management of their factoring business.

Factoring, a financing model in which a company sells its receivables resulting from the supply of goods and services to a factoring service provider, is gaining in importance. The advantages for the factoring client include enhanced liquidity, risk mitigation, a reduced work-load and an improved balance sheet as a result of a higher equity ratio which, in turn, upgrades his rating and the conditions he can obtain from financial service providers. The entire management and administrative effort is taken over by the factoring company. Accruing process costs can be optimised and minimised by a modern, flexible factoring solution.

The afb Credit Management Solution (afb-CMS) owes its origin to wholesale finance, whereas today it is possible to flexibly combine factoring and wholesale finance in the solution as required. The factoring solution in afb-CMS includes the entire factoring process, from the capture of the application on to the automatic decision, its processing and finally through to contract management in an end-to-end, fully integrated, continuous web-based system. Capture, verification and processing of the documents is automated and includes a professional reminder mechanism. Borrowers and suppliers are each given an automatic rating in the partner management system. This enables credit decisions to be taken quickly in line with the company-specific risk strategy. As part of the application and contract management process, factoring companies can furnish and administer securities efficiently. Contract accounting runs in parallel with the financial accounting of the general ledger. Standard interfaces to commercial payment systems ensure that processes run smoothly. The modular design based on standardised components allows for optimum adaptation to the factoring company's individual requirements.

"We are taking the opportunity of offering a powerful, standardised factoring solution to a rapidly growing market. With the afb-CMS we are providing a powerful system which our customers can configure according to their needs and which can be flexibly adapted to meet changing market conditions", explained Enrico Moritz, Manager of Business Development and Consulting at afb.

About afb Application Services AG

Based in Munich, afb Application Services AG has been optimising the financing operation of banks and leasing companies since 1995. A full-service provider, afb offers a customer- and project-specific mix of process, specialist and IT consulting, projects based on the afb Credit Management Solution, application and infrastructure management, business process management and outsourcing. Its innovative solutions enable companies to automate the entire credit process – from quotation to application with fully automated credit decisions and processing, through to contract management. Well-known companies from the financial services sector make use of the solutions offered by afb internationally to generate a significant percentage of their turnover.

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afb Application Services AG
Sylvia Hengstler
Senior Marketing
Tel: +49 (89)78000-353