(Source: Realtid.se, Marlène Sellebråten)
Launching automated AML support for invoices on factoring platform
With its factoring platform, Invoier focuses on helping small and medium-sized enterprises scale up. The next step for the Stockholm-based fintech company is a launch in Europe.
The AI-based invoice marketplace Invoier is now launching technical system support for anti-money laundering (AML), a growing problem not only for banks but also for the factoring industry. Money laundering is estimated to turn over a total of approximately SEK 130 billion annually in Sweden, and during 2019, nearly 7,000 offences against the Anti-Money Laundering Act were reported, according to Invoier.

– Our new AML decision engine, Invoier Sheriff, radically automates traditional methods more efficiently by gathering data such as risk assessment information, alerts for anomalous behaviour and analyses of human behavioural data. The high degree of automation allows us to squeeze margins while simultaneously ensuring that the marketplace becomes even safer for our buyers to trade on, says Daniel Nassab, CTO at Invoier, in a press comment.

Who specifically should use your platform and in particular the new AML function?

– Our platform is used by buyers in the form of investing companies who will get a more secure investment with less risk. The sellers, that is those who sell invoices on our marketplace, mainly consisting of small and medium-sized growth companies, also benefit from more secure sales when it becomes harder for unscrupulous operators to try to get in, says Fredrik Mistander, CEO and co-founder of Invoier, to Realtid.

Expansion in Europe
The next step in the company's growth journey is the launch in other markets in Europe.

– We understand the need for a fast-moving market and have therefore invested in automation that will best benefit small and medium-sized enterprises' opportunities for growth. As we are also about to launch our marketplace in Europe shortly, it was critical for us to also develop technology that was scalable for many countries right from the start, says Fredrik Mistander.

 

The article is published in full on Realtid.se, 2021-06-14:
https://www.realtid.se/invoier-lanserar-automatiserat-aml-stod-siktar-pa-europa

About Invoier

Invoier provides solutions for company financing and has developed Sweden’s only marketplace for invoices. The purpose is to enable market-based pricing for financing and growth of small- and medium sized businesses, as well as a new type of investors get access to this market. The technical base of the offer consists of a unique AI engine that will anticipate both if and when an invoice will be paid. Invoier was founded in 2020 in Stockholm and is financed by the EU and KTH and operates with permission of the Swedish Financial Supervisory Authority and the Swedish Authority for Privacy Protection. Read more about Invoier