Re-inventing the factoring system


On September 27, SME Banking Club, together with Comarch Financial Services, organized a webinar on the topic of re-inventing the factoring system & how users’ behavior influences the platform’s functionality.

At the beginning of the webinar, Olena Gryniuk (SME Banking Club) shared the results of the updated SME Banking Club Digital Factoring Study from 2022 related to the CEE region. Therefore, factoring companies, banks, and fintechs from 7 countries in the CEE region were analyzed this year according to 17 parameters. This year 22 factoring companies and fintechs offer fully or partially digital processes for factoring, whereas 14 of them offer fully digital factoring processes. As a result, compared to 2020 the number of companies offering a completely digital process increased by 2, and to 2020 – by 6. It is obvious that the number of such companies should grow, which will lead to the development of the micro and SME sectors.

After that Karol Leszczyński (Comarch Financial Services) started his presentation with the following figure – EUR 3,093,706 million, which is worldwide factoring turnover in 2021. How can the factoring system handle it? Karol Leszczyński mentioned four main positive scenarios. Those are scalability, microservices architecture, continuous improvement and development, and availability.

An equally important aspect is also the right approach to software development. Karol added that the factoring system should be created in cooperation with an end user and the customer’s journey should be as intuitive as possible. He noted that the collaboration with the factoring employees created the perfect Back Office experience. Moreover, to facilitate and speed up the quality of work, automation should be applied in various dimensions. Saved time employees could spend on the creation of relations with customers which certainly has a positive effect on the quality of their interaction.

Karol Leszczyński mentioned that 53% of SMEs declared that the factoring platform should be intuitive and easy to use. However, 56% of them paid attention to better support and the whole ecosystem of the factoring platform which contains debt collection, connection with ERP, AML, KYC, factoring, etc.

To prevent losses from cyber attacks and system inaccessibility the cloud infrastructure, cyber security, and a modern architecture should be implemented, applied, and developed.

In the last part of the webinar – the Q&A session, Olena and Karol discussed what could bring more factors in the digital space, changing needs of SMEs due to the new business challenges, and the increasing percentage of the new generation of entrepreneurs. Furthermore, Olena Gryniuk showed an example of ING Bank Śląski in Poland which integrated micro factoring into e-invoicing and accounting platform.


To learn more details, watch the full webinar below: