Since September 1st, Fintech Finalbion moves to the avant-garde on innovation after implementing the Alvantia commercial financing platform into its own systems, backing up its disruptive business model with the most innovative technological solution on the market. Finalbion, who specializes in the financing of working capital, now operates under Alvantia platform, which has been implemented with huge success by Alvantia’s team and will be used by Finalbion from now on to manage their receivables and payables services, among others.
Roberto Gutiérrez, CEO of Alvantia, remarks that the company’s technological solutions for commercial finance serves now a volume of over 50 billion assignments a year at domestic and international level by all its customers, and that the advantages of the platform can be grouped into six main areas:
-Focus on satisfying customer needs and expectations. The platform includes an online portal that enables Finalbion clients and providers to access the most comprehensive facility on the market which facilitates Know Your Customer (KYC), compliance and money laundering prevention.
-Functionality. It increases the range of commercial modalities, products and services offered by Finalbion up until now, and provides a comprehensive and cohesive solution to the needs of all the departments at Finalbion (sales, risks, legal, operations, accounting, collections, etc.).
-Level of automation. Allows the management of a variety of clients and huge volumes of information by adapting risk control systems to clients’ credit ratings and minimising operational risks.
-Scalability. The platform incorporates the functions of multiple entities, countries and currencies, etc., in order to guarantee its scalability and facilitate its international expansion.
-Usability. Its user interfaces, both the BackOffice and the client and supplier portal, have been designed to optimise user experience.
-Integration. The platform is completely integrated with Finalbion’s structural technological systems.
José Antonio Garrote, Business Manager at Alvantia, considers that “technology must be a resource enabling companies to reach their strategic and business goals”. He defines some of the characteristics that demonstrate the platform’s technological capabilities. Those could be microservices architecture deployed in cloud systems and with complete API under online REST services, or front-ends based on the Simple Page Application paradigm. All based on the most robust and cutting-edge open-source frameworks on the market.
Receivables and payables finance accounted for almost 20% of Spain’s GDP in 2018
According to a publication by the Spanish Factoring Association, Factoring and Confirming registered an increase of 13.45% and 14.38% respectively. In 2018, these commercial financing modalities managed credits with a grand total of 234.159 billion euros, which represents 19.40% of the GDP. It is worth mentioning the strong growth of international Factoring, with an increase of 21.36% in 2018, a favourable contrast to the mere 1.31% increase registered in 2017.