Within the platform, all users and organisations belong to one of the following personas - Platform Administrator, Payer, Seller, Funder or Fund Manager.
Platform administrator
A platform administrator is the organisation that uses the FinverityOS platform to onboard and manage companies (payers, sellers, funders and fund managers). They are usually part of the same organisation as the Funder/Fund Manager often also the Funder/Fund Manager. Platform administrators have access to our dedicated Admin Portal.
Payer (Buyer)
A Payer is a company that is purchasing goods or services from another party (a “Seller”). They have the obligation to pay for those goods or services and are using the FinverityOS Platform to extend their terms or enable their suppliers (the “Sellers”) to be paid sooner by selling their invoices on the Platform to a Funder. In some funding structures the Payer will access the platform to upload or approve invoices to be funded by the Funder/Fund Managers (Payables Financing). In some funding structures the Payer is not aware of the funding facility does not access the platform (e.g. Receivables Financing).
Seller (Supplier)
A Seller is a company that is selling goods or services to another party ( a “Payer”). They expect to be paid for those goods and are using the FinverityOS Platform to be paid before the invoices are due, or to enable their Payer to extend their terms (e.g. by being paid by a Funder first who is then repaid by the Buyer).
This means Sellers can sell their receivables at a discount (in exchange for early payment) or sell their receivables at face value (in the case of distributor finance where the payer enjoys an extended credit period and incurs the fee). In some funding structures (e.g. Payables Financing - True Sale, Receivables Financing), the Seller will access the platform to upload and sell the invoices for funding. In some funding structures (e.g. Payables Financing - Prepayment), they are not aware of the funding facility and do not access the Platform.
Funder
A Funder is typically a bank or institutional or sophisticated investor that uses the platform to invest in short term self-liquidating assets for a risk-adjusted return. Funders use the FinverityOS Platform to create strategies which determine the types of invoices they want to fund and to set limits and return criteria.
Banks using the FinverityOS Platform typically set up their credit or risk teams as Funders so that they have oversight of the overall exposures on the Platform. Funders on the platform have the option to act as fund managers and manage investments on behalf of other funders.
Fund Manager
A Fund Manager manages the day-to-day invoice approval and funding workflows on the FinverityOS Platform. They can manage funds on behalf of multiple Funders or for a single Funder.
Banks using the FinverityOS Platform typically set up their trade operations team as Funders so that they can approve invoices, make disbursements and reconcile repayments.