Factoring is offered in two different ways, either by buying invoices or by mortgaging them, and Ikano Bank can handle customer relations as a part of the factoring process.

The Challenge

Ikano Bank had to replace a virtual printer for invoice file data. At the same time they wanted to innovate their offering and make it possible for business customers to connect their accounting systems, to supply invoice data directly from the APIs. All this to keep providing efficient, fair and transparent services as well as reducing stress and mitigating risks with factoring going forward.

The solution

Ikano Bank have added Zwapgrid API.1 to their tech stack and can now connect their customers in a simple and secure way. They can do this in a pace that is adapted to their internal processes and needs. They start in Sweden and have access to every system and file type that is added to API.1, making it possible to connect business customers on all Nordic markets going forward, thus streamlining their internal processes and making it easier to deliver efficient and secure factoring, no matter the source of the invoice data.

“We have set ambitious goals to deliver an efficient experience to our business customers while reducing the internal stress and risks associated with the assessment and administration of factoring. Standardising how we receive invoice data is an investment that will help us now and in the future. Zwapgrid API.1’s combination of delivering file and API data in a unified way stand out as both unique, powerful and efficient”. Morgan Belic, Global Product Manager B2B at Ikano Bank

Read more about Zwapgrid API.1 for factoring.

Author: Magnus Serratusell Wallin