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3i Infotech announces major enhancements to KASTLE™ Factoring solution

3i Infotech, a global provider of IT solutions, today completes the latest phase of its ongoing commitment to deliver functional enhancements, upgrades and wider market innovation to its European product suite. The milestone sees 3i Infotech realise a significant investment in its KASTLE™ Factoring solution for the receivables finance sector which has seen a real uptick in industry demand over the past twelve months, as established businesses and institutions seek to achieve a clearer understanding of all aspects of their finances.

In the wake of the global recession’s impact on trade, and the associated market move towards the benefits that receivables finance can offer, organisations have been quick to seek out a service that addresses the challenges of cash flow management. The enhanced and fully revised KASTLE™ Factoring solution meets these needs, enabling greater levels of service automation and understanding for existing and prospective customers.

Faisal Khan – Director, Banking and Insurance, 3i Infotech Western Europe said, “We are conscious that the receivables finance industry in Europe is in a high growth phase and rapidly becoming a mainline method for companies to obtain liquidity. With this growth and maturity comes the need to deploy leading-edge technology and by enhancing our KASTLE™ Factoring solution, we are able to assist the industry in reaching new levels of efficiency”.

The enhancements have been implemented over a range of the KASTLE™ Factoring functions, and provides a number of developments, including:

• An all new Customer Relationship Management module that captures and processes the information necessary to evaluate, structure and create receivables finance facilities.
• A flexible, clear KPI dashboard interface that may be utilised on the desktop, laptop or mobile smart phone.
• The integration of 3i Infotech’s existing document management and scanning solutions alongside the transaction processing functions of KASTLE™ Factoring.
• The latest pioneering fraud detection tools and assistance with regulatory compliance.
• Comprehensive enterprise-wide risk management with a risk-rating tool that allows institutions to continually monitor a borrower’s credit-worthiness.

With this latest phase of investment now complete, 3i Infotech will continue to offer a market leading solution that enables the receivables finance community to meet the wider challenges associated with operational cost reduction, compliance and regulation.