Transcapitalbank joined the electronic factoring FactorPlat platform

April 21, 2015. Transcapitalbank announced accession to the independent multibank platform FactorPlat.

The platform FactorPlat developed by Edisoft company allows to refuse completely paper document flow between all participants of factoring transactions: retail chain stores, factor and supplier. If verification of documents takes place in the normal scheme selectively and it bears in itself the hidden risks, then with FactorPlat it is possible to verify automatically 100% of deliveries and to have complete online control of transactions.

The maximum security of factoring transactions – one of the main advantages of FactorPlat. Guarantee from possible falsifications and fraud with documents and also additional protection in case of judicial proceedings, participants of the transaction receive thanks to the fact that all legally significant document flow goes in electronic form through the accredited EDI provider. Besides, at EDI factoring economy on processing and sending invoices reaches 80%, due to failure from use of paper documents and decrease in the labor costs connected with their processing.

Cooperation of X5 Retail Group, Transcapitalbank and Edisoft which are leaders in the spheres says that for EDI factoring – the future of this actively developing industry. The X5 Retail Group company expects roaming connection to FactorPlat of all representatives by the retailer of EDI providers together with their suppliers.

Mikhail Ralkin, chairman of the board of Edisoft group: "FactorPlat is the high-tech solution which is unique for the Russian market. It completely changes the relation of retail chain stores, factors and suppliers to electronic factoring. For the first time factoring transactions pass in Russia on the basis of legally significant electronic documents and electronic signatures. We are glad that great interest to the platform was shown by X5 Retail Group which wants to construct work with suppliers in a new format. We found understanding and with Transcapitalbank which sees for itself(himself) advantages of electronic factoring from which main thing – complete security of transactions".

Mikhail Yemelyanov, vice president, head of the department of assessment of credit risks of Transcapitalbank: "Factoring in Transcapitalbank is one of the priority directions in which we are going to increase actively the share further. For this purpose it is necessary to increase constantly a service component and to ensure the maximum functionality and security of transactions. Cooperation with FactorPlat is the next step of Bank for achievement of this purpose. The new solution will allow our clients to increase considerably efficiency of factoring processes and, respectively, to receive real economy and competitive advantages that it is especially relevant in modern economic conditions. The provided opportunity to work together with Edisoft and X5 group offers huge prospects of mutually beneficial cooperation and growth of factoring business in our Bank".