| Developers: | Rostelecom, Farzoom (Fazum) |
| Date of the premiere of the system: | 2023/11 |
| Branches: | Internet services |
2024: Market Entry
Rostelecom and Farzoom have launched the digital factoring platform Receivables Exchange, which is intended for suppliers, manufacturers and contractors facing a delay in receiving payment. The customer on the platform can be any organization. Rostelecom announced this on June 24, 2024.
The Accounts Receivable Exchange, launched in November 2023, was originally intended solely for internal use at Rostelecom. Now the digital platform is available on the open market and is used not only for factoring operations, but also for dynamic discounting, which will become another convenient tool for managing cash flows for customers.
Rostelecom verifies its obligations, suppliers and contractors can be financed on favorable terms. Due to end-to-end automation, a smaller package of documents is required, and the process of receiving money is accelerated. The accounts receivable exchange is designed to become an effective digital alternative to classical factoring. In addition, Rostelecom takes over organizational interactions with factors, thus simplifying the use of the platform.
 | Rostelecom pays special attention to digital solutions for financial institutions and business. The Digital Accounts Receivable Exchange is a convenient tool for attracting the most profitable financing for suppliers, manufacturers and contractors who have already won the procurement procedure and supply goods and work, but prefer to speed up payment, "said Sergey Anokhin, First Vice President of Rostelecom. |  |
| | Together with the subsidiary Fazum, we are preparing new fintech products for participants in procurement procedures. First of all, this is the "Receivables Exchange" for quick, convenient and inexpensive financing of supplies, obtaining operational financing online. Soon we will present a new line of demanded digital solutions, - commented Denis Ryabchenkov, Vice President and Director for Digital Business Development at Rostelecom. | |
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