Automated Invoice Funding Platform for Rapid Cash Access in Financial Services

The client faces lengthy verification and onboarding processes for invoice funding, leading to delays of several weeks and inefficiencies in cash flow management. Existing factoring services are perceived as expensive and complex, hindering competitiveness and customer satisfaction. Manual verification, disparate data sources, and security concerns further complicate invoice funding workflows.

A mid-sized financial technology company specializing in invoice financing and credit risk assessment, aiming to streamline operations and reduce manual verification efforts.

• Reduce customer onboarding and invoice verification time from weeks to within 24 hours.
• Develop an integrated platform that consolidates customer data from multiple sources for verification.
• Implement a decision engine to automate funding approvals based on real-time data analysis.
• Enhance security and data privacy standards for sensitive financial and customer information.
• Enable seamless integration with accounting and financial software via multiple API connections.
• Automate ongoing invoice monitoring and funding decisions to improve operational efficiency.

• Multi-step customer onboarding process collecting bank, account, and identity verification data.
• Secure data handling complying with industry security standards, with restricted access to authorized personnel.
• Integration with multiple accounting software systems (e.g., Xero, QuickBooks, Sage) for data synchronization.
• A decision engine that evaluates customer data and makes preliminary funding decisions automatically.
• Final human analyst review stage to ensure compliance and accuracy in funding approval.
• Automated continuous monitoring of receivables and invoice status updates.
• Custom reporting for individual customers to facilitate transparency and auditability.

• Accounting software APIs (e.g., Xero, QuickBooks, Sage) for data synchronization
• Banking and financial data sources for customer verification
• Identity verification and electronic document signing services
• Credit assessment and risk evaluation tools
• Payment processing gateways

• System scalability to handle increasing client volume and data sources
• High system uptime and reliable performance to ensure 24-hour funding cycle
• Data security compliant with relevant standards (e.g., GDPR, ISO/IEC 27001)
• Response times under 2 seconds for user interactions
• Automated data backup and disaster recovery protocols

The implementation of this automated invoice funding platform is expected to significantly reduce onboarding and verification times from several weeks to 24 hours, increase operational efficiency through automated decision-making, lower costs by minimizing manual interventions, and enhance customer satisfaction by providing fast, transparent, and reliable cash access. This will position the client as a more competitive player in the invoice financing market, improving margins and enabling scalable growth.