GRENKE Factoring – Digitising the lending journey


GRENKE Factoring provides flexible, fast and personal receivables management services for SMEs in the UK and Europe. Formed in the UK in 2013 off the back of strong growth in the German market, they set themselves the goal of providing quick and straightforward processing for their factoring clients.

Validis is a London-based FinTech and developer of DataShare, a secure data extraction and standardisation solution used by banks and alternative finance providers to optimise their SME lending processes. Validis transfers the full transactional and historical financial history of the SME to the lender, removing the need for manual preparation of accounts when applying for funding.

The Challenge

GRENKE is constantly reviewing all aspects of its operations to help drive efficiencies that keep them ahead of the competition. They pride themselves on their digital focus, regularly adopting new technologies to improve the client experience.

The time taken by the SME to manually prepare and submit their financial data for review during application for funding was identified as a pain point. Automating the data extraction and standardisation process would unlock significant downstream benefits.

The Solution

“Our main aim was to speed up our processes and free our customers from the cumbersome task of having to collate and send information to us. We chose Validis as our partner due to their easy to use platform, both from our point of view and that of our clients. Validis have demonstrated to us that our customers will receive the same high levels of service from them that that have come to expect from GRENKE. We look forward to our relationship with Validis and finding out how their platform can add value to our product.”
– James Williamson, CEO – GRENKE Factoring

GRENKE Factoring chose to partner with Validis to build a secure data extraction and standardisation journey for their factoring clients in the UK. Validis’ revolutionary software platform, DataShare, seamlessly extracts the financial data from the SMEs accounting package and shares it with GRENKE in a standardised format at the point of application. GRENKE uses the financial data to support two main functions:

  • Client Onboardng: Streamlining the application process for clients by driving a digital agenda enables a quicker decision and helps engender loyalty
  • Risk Management: Having ready access to an SMEs financial data enables closer monitoring of the portfolio, speedy due diligence and secure underwriting

Going forward GRENKE Factoring and Validis will continue to optimise the digital journey for SMEs looking for funding in the UK.

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