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Укр Factoring in public procurement: AUB Committee discussed the implementation of an innovative tool on the electronic platform "Prozoro.Prodazhi"
On April 18, a meeting of the Committee on Development of Documentary Operations of the Association of Ukrainian Banks was held. As part of the event, a new pilot project of JSC "Prozoro.Prodazhi" was presented, aimed at launching electronic factoring in the public procurement system. The discussion took place in a hybrid format with the participation of more than 20 participants - representatives of the banking sector, non-banking financial institutions and the expert community. During the meeting, a mechanism was presented that allows suppliers who have won a state tender to attract financing through factoring directly in the digital environment. Thanks to integration with the Prozoro.Prodazhi platform, suppliers were able to create factoring requests, upload the necessary documents, and banks were able to submit financial proposals in electronic format.
Andriy Saliy, CPO of the product management department of JSC Prozoro.Prodazhi, presented the mechanics of the new tool, which allows to simplify access to financing and increase the transparency of processes. He emphasized that the system ensures a minimum number of actions on the part of the supplier, automation of document processing and open interaction between all participants - suppliers, banks and state customers. He paid special attention to the technical implementation of the solution, the challenges associated with interaction with debtors, and the importance of implementing a payment control module. He called on banks to actively participate in the pilot and provide feedback to improve the system.
The participants of the discussion noted the innovativeness and practicality of the approach, which is aimed at solving several market challenges at once:
- limited access of small and medium-sized businesses to financing;
- low awareness of factoring among government procurement suppliers;
- cautious attitude of government customers towards changing payment details.
Particular attention was paid to the issues of trust in the new tool by banks, the need for transparent interaction with government customers, as well as further automation of processes. Bank representatives emphasized the importance of having reliable information about debtors and proposed expanding the set of statistical data that will be available through the system.
AUB President Andriy Dubas noted that the development of electronic factoring is an important part of the adaptation of the Ukrainian financial sector to EU requirements. He spoke about the opening of the Association’s representative office in Brussels and new opportunities for interaction with European partners and international donors. In this context, he called on the participants to develop practical initiatives — in particular, on the creation of electronic invoices, registers and regulatory support for factoring — that AUB could present at the EU level to attract expert and technical support.
Following the meeting, the participants supported the idea of concluding a memorandum of cooperation between the Association of Ukrainian Banks and JSC “Prozoro.Prodazhi”, which would become the basis for the systematic development and introduction of factoring in public procurement.
