Belgium’s Largest Factoring Company Innovates a Digital Fintech Solution, Cuts Onboarding From Months to Days
Industry & Market:
Banking / Financial Services
€37.5 billion (2021)
Salesforce Sales Cloud CRM, core banking systems, solutions for e-signatures, document management, customer screening
Case Study:Belgium’s Largest Factoring Company Innovates a Digital Fintech Solution, Cuts Onboarding From Months to Days read more
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BNP PARIBAS FORTIS FACTOR
BNP Paribas Fortis Factor uses Boomi as the core of a digital customer onboarding solution while gaining flexibility for digital transformation across the business
BNP Paribas Fortis Factor, a unit of Belgium’s largest bank, has digitized its solutions for factoring, by which it provides upfront capital to businesses based on invoices yet to be paid by a business’ customers.
Called Easy2Cash, BNPPFF’s innovative factoring product replaces traditional manual processes with digital onboarding that’s faster, easier, and more transparent for factoring clients — and for the business itself.
Aiming for speed and cost-efficiency in devising Easy2Cash, architects on both business and IT sides leveraged existing technologies where possible, such as a Salesforce Sales Cloud CRM solution and core banking systems.
Otherwise, BNPPFF took a “buy, not build” approach to building the Easy2Cash tech stack, licensing solutions for document storage and e-signatures. For the crucial orchestration and integration core, the company selected Boomi with services provided by B-flow, a top Boomi implementation partner based in Belgium.
How Boomi Helped
For Easy2Cash, Boomi orchestrates and integrates processes and data across a half-dozen systems, including Salesforce, document storage, e-signatures, and “know your customer” (KYC) eligibility screening. In concert with Salesforce, Boomi also provides visibility and monitoring to ensure Easy2Cash process integrity.
Going forward, BNPPFF is capitalizing on Boomi’s reusability to optimize other processes as part of organization-wide digital transformation initiatives. Company leaders credit B-Flow, on the short list in Boomi’s 2022 EMEA Partner Awards, in helping the BNPPFF make the most of Boomi capabilities.
Boomi’s speed of integration development helped BNPPFF meet rapid time to market objectives for Easy2Cash, even with a lean team of IT specialists and Easy2Cash product managers. With Boomi and B-flow, the company:
- Delivered Easy2Cash rapidly, in less than nine months
- Reduced factoring client onboarding time from weeks or months to just days
- Gained acclaim and high NPS scores from clients
- Elevated IT’s role as a strategic partner to the business
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