FIS implemented FIS Factoring and Tender management in Raiffeisenbank

In 2016 FIS company won the tender and signed the development agreement of the automation system of the factoring transactions FIS Factoring with Raiffeisenbank. Completely integrated IT solution was implemented in 8 months. At the end of 2016 the bank started the first transactions and performed operations in a new system.

The FIS Factoring system is developed based on FIS Platform and consists of 9 main modules: "Partners", "Agreements and contracts", "Deliveries and registers", Commissions, Limits, Stop factors, "Payments and debt repayment", "Transactions and transactions", Reports. Allows to set up the solution flexibly integration, processes, conditions and parameters of factoring services and it was developed taking into account requirements of Raiffeisenbank.

FIS company plans further development of the technological solution for factoring.

"Interest in this market is connected with the fact that effective rendering factoring services directly depends on the level of automation of transactions and processes — explained in FIS. — Amount of the aspects requiring accounting, calculation, control and monitoring in factoring transactions not less than in classical crediting that means high labor input of process of service. The main purpose of all IT solutions based on FIS Platform is providing the low level of operating expenses when rendering any financial services".