Challenge
For BL Capital, getting its clients’ financial information was a complex process. The risk team wanted to make fast, safe decisions and prevent invoice fraud.
Solution
BL Capital started working with Fapro in September 2022. Since then, its team has had fast, secure access to each client’s information, including credit notes and the amounts and cross-checks of purchases and sales. With that source data, the risk team could see, for example, that the same client was also factoring with other companies and holding smaller invoices.
With Fapro everything is simpler, because we get all the information easily, quickly and securely.
Héctor Arias, Head of Risk at BL Capital (translated from Spanish)
Result
With Fapro, BL Capital prevented fraud of more than CLP 200 million and detected invoice splitting worth CLP 80 million a month across its portfolio. By February 2023 it had enrolled 70% of its clients, asking them for fewer documents and answering them faster. In 2022 it placed CLP 12 billion.