Frankfurt-based efcom has been providing factoring software since December 2000 and has a wide client base in over 11 countries.
The deal will see Equiniti Riskfactor leverage the partnership to launch its flagship risk management and analytics software into the growing German factoring market, as part of its continued international strategy.
The software, EQ Riskfactor, has been built specifically for the invoice finance and factoring market and uses unique risk algorithms to highlight deteriorating profiles and unusual client activity. The leading software enables lenders to identify fraudulent activity earlier than any other system by providing an in-depth understanding of the risk across client portfolios and recognising any signs of irregular behaviour.
Aaron Hughes, Managing Director at Equiniti Riskfactor, comments:
“We are very excited to have partnered with efcom: they have a reputation in the market for excellence and their existing software is a perfect complement to our own risk analytics.
“efcom’s understanding of the factoring market and enthusiasm for our risk software form a brilliant foundation from which we can launch the business in Germany and spearhead its use across the German factoring market. We look forward to working with efcom over the coming months and years and meeting new customers along the way.”
Daniel Huszar, Head of Sales at efcom, comments:
“This is a very exciting partnership for efcom and we are proud of this partnership with Equiniti Riskfactor. Their leading software has a fantastic reputation within the industry.
“Working in close collaboration with Equiniti Riskfactor is a fantastic opportunity for efcom as our products complement each other extremely well. Combining EQ Riskfactor’s portfolio-based risk analytics with our in- depth factoring software will provide a compelling and unique proposition for clients.
“By joining forces, we are able to offer a new service to the market which produces better analysis than ever before.”
For more information:
Temple Bar Advisory
Notes to Editor:
About Equiniti Riskfactor
Equiniti Riskfactor is the leading provider of risk management and fraud analytics software for the global commercial finance market including factoring organisations, banks and alternative lenders. In the UK, over 90% of the receivables finance market use the leading application, EQ Riskfactor.
Equiniti Riskfactor is part of the FTSE 250 firm Equiniti Group, a specialist outsourcer delivering technology- enabled solutions to some of the best-known brands and public-sector organisations in the UK, including c.70 of the companies in the FTSE 100. It is the UK’s leading provider of share registration and associated investorservices, and also has market leading positions in administration of employee share plans, pension administration and software, and employee benefit schemes. Equiniti’s services, which are delivered by over4,300 employees, benefit 28 million people in the UK and 120 countries around the world.
efcom is a German based software provider to the global factoring market. They have provided outstanding factoring software since December 2000 and are now used by 40 factoring organisations across 11 countries. efcom has established market leadership by the number of installations within Germany, Austria and Switzerland.
The applications cover the requirements of complex factoring concepts in all major types of factoring.
Their software solutions help companies to control the high volumes of receivables lending and provide clients with unique data and analysis to help clients with their strategic and operational management.