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EQ Riskfactor approved as preferred vendor for U.S. based International Factoring Association

Tue 23 Jun 2020

EQ Riskfactor, is delighted to announce that it has entered into a new preferred vendor partnership with the International Factoring Association.

  • EQ Riskfactor is now an approved vendor for the International Factoring Association
  • The new agreement gives EQ Riskfactor access to a membership base of over 400 factoring organisations in the U.S.
  • All members can access an exclusive offer of ‘free hosting’ worth up to $5,000 on the newly launched SaaS model of EQ Riskfactor

EQ Riskfactor, part of EQ (Equiniti), has entered into a new preferred vendor partnership with the U.S.-based International Factoring Association.

EQ Riskfactor’s established risk management technology uses automation to identify potential frauds. Its advanced analytics highlight unusual activity, so that lenders can investigate fraud and reduce risk. The technology also helps lenders to eliminate manual processes saving time and money.

The new partnership will give EQ Riskfactor access to the International Factoring Association’s membership of over 400 factoring organisations based throughout the U.S. The exclusive offer gives members free hosting of the cloud hosted SaaS solution, which is worth up to $5,000*. The preferred vendor partnership will help to establish EQ Riskfactor as a key provider of risk management software and consulting to the growing market of factors which support small and medium businesses in the U.S.

Earlier this month EQ Riskfactor unveiled its new SaaS, cloud-hosted model which is available to U.S. lenders and is compatible with all major operating platforms in the U.S. The new hosted version streamlines deployment and eliminates the need for costly IT infrastructure, and on-going technical support.

Aaron Hughes, Managing Director at EQ Riskfactor commented:

I am immensely proud to unveil our new preferred vendor partnership with the International Factoring Association. As well as detecting fraud, the software will help factors to improve the overall efficiency of their business and ensure for the first time that they have access to real time information, helping to minimise losses across the portfolio."

“Our teams can rapidly implement EQ Riskfactor for international clients, allowing them to quickly spot fraud and reduce risk across their portfolio. EQ Riskfactor will also help generate operational efficiencies and streamline many risk management processes, saving factors money. I look forward to working closely with the International Factoring Association over the coming months.”

Bert Goldberg, Executive Director at the International Factoring Association said:

“I am delighted to announce EQ Riskfactor as our new preferred vendor. IFA members that currently use their product indicated that the company is easy to work with and the product has been helpful with their portfolio.  The exclusive offer of ‘free hosting’ for our members will help to make this product more affordable.”

*Hosting is calculated based on number of clients within a portfolio and number of users of EQ Riskfactor

Learn more about our new SaaS model

 

About EQ (Equiniti)

EQ provides accessible digital services for regulated markets. It specialises in equity and investment products, pensions, payments and regtech.

EQ is working to become a business with a stronger purpose. A business whose success is based on a broader range of measures than just generating profit. Its aim is to care for every customer and to make its services accessible for everyone, delivered with less of an impact on the environment.

It is the UK’s leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes. EQ’s services, which are delivered by over 5,000 employees, benefit 36 million people in the UK and 120 countries around the world.

EQ is listed on the London Stock Exchange as Equiniti Group plc.

EQ Riskfactor

EQ Riskfactor is the leading provider of risk management and fraud analytics software and consulting for the global commercial finance market including factoring organisations, banks and alternative lenders. In the UK, over 90% of the receivables finance market use EQ Riskfactor’s products.

About the International Factoring Association

Headquartered in Avila Beach, California with over 450 corporate members, the International Factoring Association is the largest association of commercial finance companies in the world. Members include factoring companies, asset-based lenders and other receivables finance companies.

Since 1999, the International Factoring Association has provided a forum for member organisations to meet and discuss issues and concerns, share best practices, disseminate information and promote a single voice to the marketplace. The principal spokesperson for the factoring and receivables finance industry is the International Factoring Association’s Bert Goldberg. For more information visit www.factoring.org.