TBC Bank doubles its factoring business with QUALCO ProximaPlus

TBC Bank is headquartered in Tbilisi, Georgia. Founded in 1992 and listed on the London stock exchange in 2014, TBC Bank has established itself as a leading player in the Georgian banking market by offering an extensive range of business financial products, including factoring services to its corporate customers.

TBC Bank has been using QUALCO ProximaPlus for two years; a move that proved to be transformational for the factoring business of the Bank. Thanks to the platform's ability to digitise and streamline operations, the client radically increased its number of transactions while creating a positive customer experience.

Ms. Tamara Khizanishvili, Head of Trade Finance and Factoring Department at TBC Bank, stated:

"QUALCO ProximaPlus has been a game changer for the factoring business of our Bank. Within the two years, we have been using the solution, we have doubled our factoring client base and achieved a tenfold increase in customer transactions. The software solution has digitised and automated our financing process, reducing the time to process from 5 hours to 30 minutes. Using the four-eyes principle and secure reporting capabilities has helped us reduce erroneous transactions. QUALCO ProximaPlus is another significant step towards growing our business since it allows us to dedicate more time to sales activities."

QUALCO ProximaPlus is a comprehensive, modular, and digital-first Supply Chain Finance (SCF) and factoring platform that efficiently enables you to improve your working capital position with speed, efficiency, and transparency. It effectively connects buyers and suppliers with funders, boosts cash flow, and injects liquidity into supply chains. The platform helps all the stakeholders interact globally in real-time.

Based on a proven track record and a broad client base spanning across the EMEA region, QUALCO ProximaPlus:

• Streamlines operations across the receivables and payables cycle

• Promotes real-time interaction between all the involved parties

• Ensures seamless user experience for both buyers and sellers

• Guarantees transparency and control of all transaction

• Reduces operating costs and risk