Allianz Bank Bulgaria presented the first fully digital factoring solution in Bulgaria - Allianz Bank mFactor, which provides a quick and easy process for receivables financing for corporate clients. The new mobile application is available to Allianz Bank customers in the App Store and Google Play.

With mFactor, bank customers can leave the deferred payment risk to the bank and receive their funds immediately. They have 24/7 online access to the factoring services they use via their smartphone or tablet. All factoring management activities, from invoice assignment and financing request to approval, can now be done through the mobile device, saving customers time, effort, risk and cost. Quick and easy digital access to all factoring services enables automatic transfer of invoices and documents, reminders of upcoming and overdue payments and much more.

Allianz Bank's innovative solution was developed in partnership with Advanced Mobile Factoring Solutions (AMFS) and Software Group and is in tune with the latest trends in the fintech industry in the field of trade finance and corporate banking. The all-digital process provides over 3 times faster and more efficient communication compared to existing web applications to factoring systems.

The implementation of Allianz Bank mFactor is part of the bank's digital transformation strategy, which aims to offer its customers sustainable solutions related to limiting the use of paper, in the context of climate change and reducing the carbon footprint on the planet.