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NFG

NFG

Automated Factoring, Reverse Factoring, And Credit Risk Assessment
Industry/Industries
Fintech
Loans & Credit
Insurance & Insurtech
Client For
6
+
Years
Project Budget
Regions / Countries Serviced
Poland
NFG introduced the first Factoring & Reverse Factoring services on the Polish market, integrating with many economic intelligence agencies. Thanks to using cutting-edge technologies, in cooperation with our team at ITMAGINATION, they created a decision engine that automates most of the tasks related to customer service.

NFG (National Guarantee Fund) is a modern financial institution that specializes in providing services for micro and small enterprises in factoring. NFG belongs to the Kaczmarski Group(including KRD, KRD BIG, Rzetelna Firma, Kaczmarski Inkasso).

NFG

Project Summary

NFG

Introduction of the first such service on the market, integrating with many economic intelligence agencies. An additional challenge was to create a decision engine that automates most of the tasks related to customer service.

NFG

Introduction of the first such service on the market, integrating with many economic intelligence agencies. An additional challenge was to create a decision engine that automates most of the tasks related to customer service.

NFG

Introduction of the first such service on the market, integrating with many economic intelligence agencies. An additional challenge was to create a decision engine that automates most of the tasks related to customer service.

Industry/Industries
Fintech
Loans & Credit
Insurance & Insurtech
Client For
6
+
Years
Project Budget
Regions / Countries Serviced
Poland

The Challenge

Factoring & Credit Risk Assessment Solution

NFG wanted to develop and deploy the first system of its kind on the Polish market. The system needed to integrate with over 30 external systems and have an automatic workflow to

Reverse Factoring Solution

NFG wanted to deliver the complete reverse factoring product in a short timeframe and with a very high quality implementtion. The solution is 100% online but technically complex because of the integration with multiple external data sources used for Identity verification, AML, and Risk Assessment.

The product supports flexible price lists configuration and affiliate links shared to the Partners (shops that recommend Fakturatka as a payment method) let clients receive more attractive rates.

The Solution

Factoring & Credit Risk Assessment Solution

ITMAGINATION has developed a system that supports factoring services provided to micro and small enterprises. It is the first fully automated, innovative factoring systemin Poland that enables the registration and assessment of online credit risk.

The innovative nature of the system consists of completely digital (no paper)invoice handling within 15 minutes (automatic validation of customers and invoices).

The system integrates with another solution of the Kaczmarski Group – FairPay (system of timely payments) and Blue Media (payment processing), a bank servicing NFG accounts and an external general ledger.

Verification of clients and invoices entered by customers is fully automated, based on a proprietary Decision Engine, which assesses the client’s credit risk based on reports/ data collected from external sources (KRD BIG, ERIF, BIG Infomonitor, CEIDG, KRS, MIGDZ, Przeswietl.pl) and prepared sets of business rules and scoring cards.

Reverse Factoring Solution

Even though the scope was wide and complex the experienced team of ITMAGINATION has developed a new module to the Factoring System of NFG and deployed it in production very quickly.

Our greatest advantage is that we understand the financial business and therefore we gather the requirements quickly and proactively, we implement the solution based on the highest standards available on the market, and our testers ensure high quality of the final product.

Apart from the integrations that existed in eFactoring (CEIDG, KRS, GUS, Multiple Banks), we also implemented new integration with BlueMedia services, PayByLink, and BLIK, which allow customers to pay instantly, which are far more convenient than submitting a traditional bank transfer.

The Results

  • 5 minutes: Time from adding an invoice to receiving money
  • 4,025: Number of clients serviced
  • 75,000: Number of funded invoices
  • 490 Million PLN / 120 Million EUR: Sum of funded invoices

Emanuel Nowak

Product & Sales Department Manager
"Our joint success with the ITMAGINATION team is the development of a process and intuitive system that allows obtaining financing in as little as 5 minutes, despite many restrictions and complicated procedures associated with financial services."

Access to online financial services 24 hours a day is already a standard. Our clients expect a reliable and intuitive system that allows managing the finances of the company at any moment.

Technologies

.NET
.NET
.NET Core
.NET Core
ASP.NET
ASP.NET
Cypress
Cypress
Jest
Jest
Azure DevOps
Azure DevOps
Microsoft Azure
Microsoft Azure
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NFG

NFG

Automated Factoring, Reverse Factoring, And Credit Risk Assessment
NFG introduced the first Factoring & Reverse Factoring services on the Polish market, integrating with many economic intelligence agencies. Thanks to using cutting-edge technologies, in cooperation with our team at ITMAGINATION, they created a decision engine that automates most of the tasks related to customer service.

NFG (National Guarantee Fund) is a modern financial institution that specializes in providing services for micro and small enterprises in factoring. NFG belongs to the Kaczmarski Group(including KRD, KRD BIG, Rzetelna Firma, Kaczmarski Inkasso).

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