Table of Contents
About Cloud Factoring
Crowd factoring is "funding without borrowing," in which companies sell "invoices awaiting payment" from their commercial transactions to raise working capital at an early stage through online completion.
OLTA is a pioneer company that launched Japan's first online factoring service, Cloud Factoring, in 2017. The service, which features "fast, easy, and reasonable" through AI-based screening, is used by many small and medium businesses (corporations and sole proprietors). The service is used by many small and medium-sized businesses (corporations and sole proprietors).
Himegin Crowd Factoring powered by OLTA
URL:https://www.himegin-olta.jp(Start of provision: August 18, 2021)
Kitagin Crowd Factoring powered by OLTA
(Scheduled to begin offering this service on September 8, 2021)
Background and Significance of the Joint Venture
Crowd factoring has attracted attention in the recent Corona disaster because it is "online financing" with a low risk of infection and a low psychological hurdle because it is not a loan (borrowing), but it is a new service for small and medium-sized businesses, and there are few companies that are aware of cloud factoring as a financing method. However, the challenge was that not many companies were aware of cloud factoring as a financing method because it was a new service for small- and medium-sized businesses.
Regional financial institutions have a high degree of recognition and trust from customers in their respective regions. This is the result of their long-standing relationships with their customers and the support they have provided to small and medium-sized enterprises (SMEs) and others by offering loans and other financial services.
On the other hand, a common challenge for regional financial institutions is how to quickly provide working capital to small and medium-sized businesses in the region in the face of the new social challenge of new coronavirus infection. Since the acceptance of virtually interest-free and unsecured loans (so-called "corona loans") from private financial institutions will end at the end of March 2021, there is a need for "post "corona loan" support measures.
In this environment, many regional financial institutions have already entered the factoring business through collaboration with fintech companies. Through collaboration between the two, cloud factoring will be added to the suite of services offered by regional financial institutions, enabling them to support small and medium-sized businesses by providing working capital as a means of "post-Corona financing".
OLTA will continue to work with many regional financial institutions to contribute to the development and revitalization of regional economies through social implementation of crowd factoring.
Outline of Joint Venture
The joint project between OLTA and financial institutions for crowd factoring is a co-creation business model that leverages each other's strengths.
OLTA provides consulting services in planning, development, implementation, and operation of web services to partner financial institutions on an OEM basis. Partner financial institutions will add the services to their own branded financial product service lineups and guide them to their corporate and individual clients.
For customers of partner financial institutions that have introduced cloud factoring, it enables them to use cloud factoring as a service of the financial institutions they usually use, and to procure short-term and small amount of working capital more easily.
List of Achievements in Providing OEMs to Financial Institutions
Recruitment of Collaboration Partners
OLTA is looking for financial institution partners who will continue to work with us to promote crowd factoring as a new means of fundraising.
About OLTA Corporation
Developed AI (scoring model) based on corporate data from approximately 200,000 companies.
Since 2017, the company has offered Japan's first online factoring service, Cloud Factoring.
With the mission of "transforming all information into credit and creating new value," the company is working extensively with financial institutions and SaaS companies to popularize cloud factoring, and has a proven track record of providing OEM services to banks.
|name of company||OLTA Corporation|
|Location||VORT Minami AoyamaⅡ 3F, 1-15-41 Minami Aoyama, Minato-ku, Tokyo|
|representative||President and CEO Yuki TAKUSHIKUSHI|
|Business Overview||Planning, development and provision of cloud factoring business and credit models|
|uniform resouce locator||https://www.olta.co.jp/ (Service website)|
https://corp.olta.co.jp/ (Corporate website)
About Ehime Bank, Ltd.
|name of company||Ehime Bank, Ltd.|
|Establishment||1915 (Taisho 4)|
|capital stock||2-1 Katsuyama-cho, Matsuyama City, Ehime Prefecture|
|representative||Yoshinori Nishikawa, President|
|uniform resouce locator||https://www.himegin.co.jp/|
About The Kitanihon Bank, Ltd.
|name of company||The North Japan Bank, Ltd.|
|capital stock||1-6-7 Chuodori, Morioka-shi, Iwate|
|representative||Yasuhiro Ishizuka, President & CEO|
|uniform resouce locator||https://www.kitagin.co.jp/|