A Global Framework, messaging and transaction standard built on XinFin Hybrid Blockchain Network(Private+Public). InFactor.io is built on top of XDC-I11 messaging protocol that is built alongside ISO20022 standard for Trade Instruments, mainly Invoices.
Supply and demand is the basis of creation of any economy. For any financial value to be generated, there needs to be an urge for it’s consumption and a fair quality and capacity of the supply to be available for the consumer to accept it. Supply and demand is the fundamental matchmaking that creates economic growth potential. There is one more factor that influences this matchmaking equation. It is the availability and intent of a financier to step in and support the supplier to bear the cost of producing a supply till the consumer is able to consume the supply and meet the monetary obligation for it’s consumption.
InFactor captures the existing data sets of the domestic invoice factoring markets from regulated institutions and relays them into global order book market based on ISO20022 standard for making it accessible to international factors using a Fiat based cryptocurrency of their choice (USD,JPY,EUR,GBP). The fiat liquidity relay can be used by any regulated financial institution to get wider and cheaper access to capital from entities with international float.
InFactor is a use case of Invoice Factoring. Invoice Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (invoices) to a third party (called a factor) at a discount.
There are 3 entities involved :
Supplier : Supplier uploads invoice to the platform.
Buyer : Buyer verifys invoice and pay the invoice amount to financer on payout date.
Financer : Financer propose and provide factoring service to supplier against invoice.