Invoice Clearing Bureau SOUTH AFRICA (ICB)BankservAfrica is the contracted host for a new innovative invoice financing facility known as eInvoiceBanking. The system, launched by ICB SA, electronically clears and validates invoices for payment before they are offered to banks for financing. Its patented design is simple but unique. It gives entrepreneurs access to working capital by allowing banks to finance the invoices of creditworthy buyers. This permits small businesses and emerging companies to receive financing for invoices for goods and services sold on normal trade terms to creditworthy debtors. Financial Services Sector Charter
The Debtor Financing Committees Financial Services Sector Charter is particularly challenging to vendors of financial service products when it comes to making these products both affordable and easily accessible. eInvoiceBanking addresses this issue, assisting banks and financiers to meet their responsibilities. It also allows them to provide finance to small and medium enterprises and other qualifying entities at minimum risk. Many of these entities do presently not have access to finance. The perfect hostBANKSERVs stability and reputation within the South African banking industry positions it as the perfect host for eInvoiceBanking. BANKSERVs sees it as a much-needed value-added service to the banking industry.
ICB SA retains responsibility for all agreements and service level agreements between themselves and the financiers, debtors and suppliers. BANKSERV is responsible for ensuring the smooth running of the system in terms of providing the necessary hardware, hosting the system on this hardware and driving billing collection.
BenefitsIt allows banks to provide finance to small and medium enterprises and other qualifying entities at minimum risk | 
