Amfa Bank.

How fast can you build a bank? For Amfa it took less than six months with a little help from Emric.

  • The need for speed
  • 1.

    Want to build a bank?


    LENDING by Emric


    System up and running in less than six months

Amfa pioneered invoice factoring in Sweden and remains the country’s market leader in this segment. When Amfa was granted a banking licence in 2012, the condition was that the support systems should be up and running by May 2013.

Amfa Bank needed a system that was ready to generate business from day one. After careful evaluation of potential suppliers, the choice was LENDING by Emric. This loan administration back-office system is easy to use, flexible and enables updates and data checks to be made in real time.

“That almost everything in the system can be dealt with in real time is key for us,” explains Fredrik Bejerland at Amfa Bank. “One of our promises is that customers will get their money as soon as we get the invoice. It’s their money, so we can’t accept system delays. And with Emric we can keep our promises.”


No time for trouble

Due to the limited time available for testing and implementation, Amfa Bank chose the standard deposit system.

“I’ve seen a lot of IT projects come and go and never seen one completely deliver on time on budget. What Emric have achieved in this case is quite unique in my experience,” says Fredrik Bejerland.

“We felt that Emric were fully committed to the project and had the best team involved. Time was a critical factor, we had no margin for error and I was never concerned. Everything was under control and Emric worked well with us and the supplier that built the customer portal. I have no doubt that Emric’s in-depth knowledge of financial services is part of the reason everything went so well,” says Fredrik.  

Bank in less than six months

It is possible then to quickly open a bank if the fundamentals are in place − as was the case at Amfa Bank.

“Being a bank opens up a whole new position on the market,” says Fredrik Bejerland at Amfa. “The word bank is associated security and stability all over the world and these are values we stand for.”

“We’re naturally very happy with this collaboration,” says Charlotte Björklund at Emric.” Amfa Bank has a system they’re not going to grow out of for a while because LENDING by Emric is flexible, has the capacity to manage large volumes and supports different languages and currencies. This is already an advantage for Amfa Bank in the countries where they’re present and we’re looking forward to support further business expansion when the time comes.”  

Amfa Bank in brief

‘We’re the bank that won’t get you into debt’ is Amfa Bank’s customer promise. In 1993 the company pioneered invoice factoring in Sweden. Twenty years later and Amfa Bank is Sweden’s only bank with invoice factoring as its core business.



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