KR20220030443A - Method and system for listing judgement of account receivable exchange - Google Patents

Abstract

The present invention relates to a listing judgement method and system of an account receivable exchange and, more specifically, to a method for listing judgement for a company that intends to register an account receivable at an account receivable exchange in a case of securitizing and distributing the account receivable for early collection of sales payment of a sale company, and to a system performing the same. The present invention provides a listing judgement method, comprising the steps of: allowing a sale company or a purchase company, which wants to securitize the account receivable, to list the company itself at an account receivable securitizing system of an account receivable exchange; then allowing the account receivable securitizing system to automatically validate whether a real transaction occurs and what a transaction risk is by using accounting information according to the agreement of the corresponding company and to register the account receivable required for securitizing; and allowing investors to make investment for the corresponding account receivable such that the sales payment is given to the sale company, thereby reducing a burden of working capital for the sale company by early securitizing of the account receivable, enabling the company to perform stable operation without a burden of borrowings, and in particular, providing accurate listing judgement for the company that has requested for listing judgement.

Description

Method and system for listing judgment of account receivable exchange

The present invention relates to a listing review method and system for a trade receivable exchange, and more particularly, to a company that intends to register trade receivables on the trade receivables exchange when securitizing and distributing trade receivables for early collection of sales proceeds of the seller. It relates to a method for listing screening for a company and a system for performing the same.

For SMEs, it is very important to collect the sales proceeds early after selling a product. There are many cases where it is.

In order to solve this problem, in the past, a factoring system was introduced in which a financial institution first provides funds corresponding to the trade receivables to the seller after receiving the trade receivables from the seller, and then receives the money back from the buyer. became

However, in factoring by such a financial institution, the seller has the inconvenience of consulting with a financial institution whenever it is necessary to transfer trade receivables, and the financial institution is concerned about the possibility of recovering the payment from the purchasing company. Due to the burden, etc., there has been a problem that it is difficult to activate.

KR 10-1903934 B1

The present invention was devised to solve such a problem, and after a selling company or a purchasing company that wants to securitize trade receivables lists its company on the trade receivable securitization system of the trade receivables exchange of the present invention, the trade receivable securitization system is According to the consent of the company, by using accounting information to automatically verify the authenticity of the transaction and transaction risk, register the trade receivables requested for securitization, receive investment from investors in the trade receivables, and pay the sales price to the selling company. The purpose of this is to reduce the working capital burden of the selling company by converting bonds into cash early, to ensure stable corporate operation without the burden of borrowing, and to provide an accurate listing screening method for companies that have applied for listing screening.

In order to achieve the above object, the listing examination method of the trade receivables exchange according to the present invention comprises the steps of: (a) receiving a listing application from a terminal of a specific company (hereinafter referred to as 'corporate terminal'); (b) receiving consent for the provision and use of accounting data of the company applying for listing; (c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated; (d) calculating a credit rating by a credit rating model; and, (e) deciding to approve the listing if the credit rating meets the passing criteria, and deciding to reject the listing if it does not meet the criteria.

The company applying for listing may be a company that sells products to other companies and then has a payment receivable (hereinafter referred to as 'trade receivable') for the product.

The company applying for listing may be a company that purchases an item from another company and has a payment obligation for the item (hereinafter referred to as a 'purchase debt').

After the step (c), (c1) inquiring whether there is a history of business suspension or closure using the accounting data of the listed company; and, (c2) deciding to reject listing if there is a history of business suspension or closure, and proceeding to step (d) if there is no history of business suspension or closure.

The credit rating model may use a logistic regression model.

The credit rating calculation includes: (d1) calculating a variable value for each listing examination item and a regression coefficient using a logistic regression model for the listing examination item; (d2) obtaining a sum of values obtained by multiplying the variable value and the regression coefficient for each listing examination item; (d3) obtaining an estimated default probability using the sum obtained in step (d2); (d4) converting the estimated default probability into a standardized score having a specific average value and a specific standard deviation through standardization using a normal distribution; and, (d5) calculating the credit rating of the listed company from the standardized score.

The credit rating calculation in step (d5) may be performed using a pre-stored data table in which credit ratings for each standardized score range are matched.

The credit rating calculation may use an artificial intelligence model formed by machine learning.

When the listing approval is determined in step (e), the step of (f) issuing a payment account to receive future trade receivable payments to the company for which listing approval has been decided may further include.

According to another aspect of the present invention, a system for performing the listing examination of the trade receivable exchange includes at least one processor; and at least one memory storing computer-executable instructions, wherein the computer-executable instructions stored in the at least one memory are, by the at least one processor, (a) a terminal of a specific company (hereinafter referred to as ' Receiving a listing application from the 'corporate terminal'); (b) receiving consent for the provision and use of accounting data of the company applying for listing; (c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated; (d) calculating a credit rating by a credit rating model; and, (e) if the credit rating satisfies the passing criteria, it is decided to approve the listing, and when it does not satisfy the credit rating, the decision to reject the listing is executed.

According to another aspect of the present invention, as a computer program stored in a non-transitory storage medium for performing the listing examination of the trade receivable exchange,

Stored in a non-transitory storage medium, by the processor, (a) receiving a listing application from a terminal of a specific company (hereinafter referred to as 'corporate terminal'); (b) receiving consent for the provision and use of accounting data of the company applying for listing; (c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated; (d) calculating a credit rating by a credit rating model; and, (e) a decision to approve listing if the credit rating satisfies the passing criteria, and a decision to reject listing if not satisfied.

According to another aspect of the present invention, the method for the trade receivable securitization system of the trade receivables exchange to perform trade receivable securitization includes the steps of: (a) performing a listing review according to the method of claim 1 for a selling company that has applied for listing ; (b) a step in which listing approval is determined for the selling company that has applied for listing, and the selling company is listed; (c) receiving a securitization application for trade receivables from the seller; (d) performing a determination of whether or not a genuine transaction for the trade receivables; (e) performing a transaction risk assessment for the trade receivables; (f) registering the trade receivable as a bond to be traded with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; and, (g) repaying the trade receivable price to the seller from the funds deposited from the investor through the closing of the trade for the trade receivables.

Between the steps (c) and (d), the method may further include the step of (c1) receiving consent for the application for securitization of trade receivables from a purchasing company that is a debtor of the trade receivables of the seller.

Prior to step (c), (b1) the purchasing company, which is the debtor of the sales receivables of the selling company, applies for listing, and performs a listing examination according to the method of claim 1 on the purchasing company; (b2) a step in which listing approval is determined for the purchasing company that has applied for listing, and the purchasing company is listed; (b3) receiving, from the purchasing company, a request for registration and prior consent for the trade receivables of the selling company, that is, the trade receivables of the purchasing company; and, (b4) registering the trade receivables and prior consent of the purchasing company. In this case, after the application for securitization of trade receivables of the seller in step (c), ex post consent from the purchasing company is not required.

The step (g) comprises the steps of: (g1) partially repaying the trade receivable price to the selling company from the investment money deposited from the investor through the closing of the trade receivable; and, (g2) after confirming that the payment for the trade receivable has been received from the purchasing company, directly repaying the remaining amount to the selling company or allowing the remaining amount to be paid to the selling company through the SPC server. may include

Between the steps (f) and (g), the method may further include (f1) selling the trade receivables to an investor and receiving an investment from the investor.

According to another aspect of the present invention, the computer program stored in the non-transitory storage medium for performing the trade receivable securitization of the trade receivable exchange is stored in the non-transitory storage medium, and by the processor, (a) the sale applied for listing performing a listing review for the company according to the listing review method; (b) a step in which listing approval is determined for the selling company that has applied for listing, and the selling company is listed; (c) receiving a securitization application for trade receivables from the seller; (d) performing a determination of whether or not a genuine transaction for the trade receivables; (e) performing a transaction risk assessment for the trade receivables; (f) registering the trade receivable as a bond to be traded with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; and, (g) executing the step of repaying the trade receivable price to the seller from the funds deposited from the investor through the closing of the trade for the trade receivables.

According to another aspect of the present invention, the trade receivable securitization system of the trade receivable exchange includes: a listing review unit for performing a listing review according to the listing review method for a company that has applied for listing; a purchasing company consent receiving unit that receives the purchasing company's post-approval for the selling company's application for securitization of trade receivables, or receives the purchasing company's trade receivable registration and prior consent therefor; a genuine transaction determining unit that receives an application for securitization of trade receivables from the company and determines whether the trade receivable is a genuine transaction when a listing approval is determined for the company applying for listing; a transaction risk evaluation unit for performing a transaction risk assessment on the trade receivables; a trade receivable register for registering the trade receivable as a bond to be transacted with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; And, from the investment money deposited from the investor through the closing of the trade for the trade receivable, it includes a cash repayment unit for repaying the trade receivable price to the selling company.

The cash on delivery unit partially repays the trade receivables from the investment deposited from the investor through the closing of the trade for the trade receivables, and after confirming that the payment for the trade receivables has been received from the purchasing company, to the seller The remaining amount may be directly reimbursed, or the remaining amount may be paid to the seller through the SPC server.

The trade receivable securitization system may further include a trade receivable trading unit that sells trade receivables to an investor and receives investment money from the investor.

According to the present invention, after a selling company or a purchasing company that wants to securitize trade receivables lists itself on the trade receivable securitization system of the trade receivables exchange of the present invention, the trade receivable securitization system utilizes accounting information according to the consent of the company to automatically verify true transaction and transaction risk, register the trade receivables requested for securitization, receive investment from investors in the trade receivables, and pay the sales price to the selling company. It has the effect of reducing the burden of working capital, ensuring stable corporate operation without the burden of borrowing, and providing an accurate listing review method for companies that have applied for listing review.

1 is a diagram showing a network configuration for performing the trade receivable securitization method of the present invention.
2 is a flowchart showing the entire process of trade receivable securitization performed by the trade receivable securitization system of the present invention.
Figure 3 is a flow chart for performing a listing examination during the trade receivable securitization process of the present invention.
4 is a diagram illustrating data for a large corporation as an example of data for calculating a model score by a credit evaluation model during listing examination.
5 is another embodiment of data for calculating a model score by a credit evaluation model at the time of listing examination, and shows data for a small corporation.
6 is another embodiment of data for calculating a model score by a credit evaluation model during listing examination, and is a view showing data on a large-scale individual.
7 is another embodiment of data for calculating a model score by a credit evaluation model at the time of listing screening, and shows data for a small individual.
8 is a flow chart for determining genuine transactions during the trade receivable securitization process of the present invention.
9 is a view showing an embodiment of a genuine transaction discrimination item.
10 is a flowchart for performing a transaction risk evaluation during the trade receivable securitization process of the present invention.
11 is a diagram illustrating transaction risk evaluation items.
12 is a diagram illustrating a transaction risk evaluation model.
13 is a view for explaining the logic of calculating the average collection period of trade receivables;
14 is a view showing the configuration of a trade receivable securitization system of the trade receivable exchange.

Hereinafter, preferred embodiments of the present invention will be described in detail with reference to the accompanying drawings. Prior to this, the terms or words used in the present specification and claims should not be construed as being limited to conventional or dictionary meanings, and the inventor should properly understand the concept of the term in order to best describe his invention. Based on the principle that it can be defined, it should be interpreted as meaning and concept consistent with the technical idea of the present invention. Accordingly, the embodiments described in this specification and the configurations shown in the drawings are only the most preferred embodiment of the present invention and do not represent all the technical spirit of the present invention, so at the time of the present application, various It should be understood that there may be equivalents and variations.

1 is a diagram showing a network configuration for performing the trade receivable securitization method of the present invention.

As shown in FIG. 1, the trade receivable securitization method performed in the present invention is a trade receivable securitization system 100, a seller terminal 200, a purchasing company terminal 300, an SPC server 400, and an investor terminal 10 ) is automatically performed through the network. However, hereinafter, for convenience, even when referring to a sales company or a purchasing company that accesses the network through such a terminal, the same reference numerals are attached to each of them to indicate the selling company 200 and the purchasing company 300 . The trade receivable exchange of the present invention includes a trade receivable securitization system 100, and may further include an SPC server 400 in some cases.

The selling company 200 is a company that has sold products to the purchasing company 300 , and has trade receivables with respect to the purchasing company 300 . If these trade receivables are not cashed in early, the sales company 200 may have difficulties in securing funds for future product production, business operation, R&D, and the like. The trade receivable securitization system 100 of the present invention securitizes such trade receivables and provides early repayment for the trade receivables to the selling company 200, thereby greatly helping the future operation of the selling company 200.

To this end, the trade receivable securitization system 100 determines whether to list or not by performing a listing examination for the corresponding company according to the application of the selling company 200 or the purchasing company 300 by an automated process. After receiving an application for securitization of trade receivables from a listed company, verification of the trade receivables is performed, and then the investors 10 can purchase them. Early repayment of the bond amount to the selling company 200 with the investment received from the investors 10, but may be repaid at once, as an embodiment, after repaying 80% in the first A method of repaying in installments may be adopted, such as a method of repaying the remaining 20% from this.

Before the investor 10 purchases the bond, the trade receivable securitization system 100 determines whether the trade receivable is a reliable trade receivable through a process such as whether it is a genuine transaction and a transaction risk evaluation, and then The bond rating including future profitability is calculated so that investors can purchase it.

The SPC 400 allows the investor 10 to purchase trade receivables and receives investment money from them, and the SPC 400 may be included in the trade receivable securitization system 100 .

2 is a flowchart showing the entire process of trade receivable securitization performed by the trade receivable securitization system 100 of the present invention.

In the trade receivable securitization system 100 of the present invention, the sales company 200 applies for trade receivable securitization (S212). The securitization of trade receivables is to convert trade receivables into cash so that the sales company 200 can collect the sales proceeds early. In this way, selling trade receivables to cash is also called factoring. In particular, if the sale of trade receivables of the selling company 200, that is, the process of securitization by applying for securitization is 'factoring', the purchasing company 300, The securitization process, which starts by registering the trade receivables owned by the customer in the trade receivable securitization system 100 in advance, and giving prior consent for future sales companies 200 to apply for the securitization of the trade receivables in the future, is called 'reverse factoring ( Also called 'reverse factoring'.

When the selling company 200 sells trade receivables, first, the selling company 200 applies for listing in the trade receivable securitization system 100 (S211), and the listing examination of the trade receivable securitization system 100 (S300) In the case of 'reverse factoring', in which the purchasing company 300 settles trade receivables using the trade receivable securitization system 100, It is necessary to apply for listing in (100) (S221), and to receive listing approval (S300) of the trade receivable securitization system 100. The listing review (S300) will be described later in detail with reference to FIG. 3 .

In the case where the selling company 200 approved for listing unilaterally applies for the securitization of trade receivables to the trade receivable securitization system 100 without prior consent of the purchasing company 300 ('net factoring') (S212), then trade receivables The securitization system 100 must obtain an agreement for the securitization of accounts receivable from the purchasing company 300 . Because, the trade receivable securitization system 100 first performs identification of genuine transactions and transaction risk evaluation for the trade receivables applied for securitization. This is because it must be freely usable by the fluidization system 100 . In this way, when the securitization application is made by the unilateral application of the selling company 200, in some cases, the purchasing company 300 actively agrees to the process of providing data and repaying cash to the trade receivable securitization system 100. If they do not cooperate, the problem of delaying the fluidization process may occur. In addition, when the securitization application is made by the unilateral application of the selling company 200 as described above, the purchasing company 300 does not need to be listed in the trade receivable securitization system 100 .

In contrast, in the case of reverse factoring, a large corporation with excellent financial soundness and a large corporate size is generally listed as a purchasing company 300, undergoing a listing review in the accounts receivable securitization system 100, and is also listed as the purchasing company. (300) selects a trade receivable that needs to be settled, registers the trade receivable in advance in the trade receivable securitization system 100, and agrees in advance on the trade receivable (S222), so that factoring is started.

That is, in this case, so that the selling company 200 can easily receive the payment, the purchasing company 300 in advance agrees to provide accounting data to the accounts receivable securitization system 100, etc. Since the basic arrangement is in place, the sales company 200 immediately starts the securitization process (factoring) only by applying for securitization for the trade receivable (S212), and immediately identifies the genuine transaction (S400), transaction A process such as risk assessment (S500) is performed. As a result, the 'reverse factoring' starting from the purchasing company 300 (S222-->S212) is not only simpler than factoring by the unilateral application (S212) of the selling company 200, but also a trade receivable securitization system ( 100) also has the advantage of facilitating service expansion by attracting a large number of sellers by attracting one purchasing company. In the case of such reverse factoring, the sales company 200 must also be listed to apply for trade receivable securitization.

After the trade receivable securitization application (S212, S222), the trade receivable securitization system 100 determines whether the transaction is a genuine transaction (S400), and determines the risk of the transaction (S500) to securitize the trade receivable. It is determined whether or not the genuine transaction determination process (S400) will be described later in detail with reference to FIG. 4, and the transaction risk evaluation process (S500) will be described later with reference to FIG. 5 in detail.

Trade receivables that have passed the transaction risk assessment (S500) are determined to be securitized, and in order to sell the trade receivables to the investor 10, classify the trade receivables according to the investment value evaluation including the profitability of the trade receivables ( After performing S230), the trade receivable with the investor 10 is performed (S240). This trade receivable transaction (S240) may be made through the server 400 operated by SPC, which is a separate corporation, and the SPC server 400 may be included in the trade receivable securitization system 100 of the present invention.

The trade receivable securitization system 100 prepays the trade receivables price to the selling company 200 from the funds deposited from the investor 10 through the closing of the transaction (S250). In this case, as an embodiment, after paying 80% to the seller 200 and deducting the fee, the account receivable securitization system 100 pays the remaining 20% after receiving the payment from the purchasing company 300 It is also possible to adopt an installment payment method. The trade receivable securitization system 100 confirms that the price for the trade receivable has been deposited into an account preset with respect to the purchasing company 300 , and allows the remaining amount to be paid to the selling company. In this case, the accounts receivable securitization system 100 may directly pay the remaining amount to the selling company 200 or may have the SPC server 400 pay the remaining amount to the selling company 200 . In some cases, if the payment is not made from the purchasing company 300 within the specified period, a non-deposit notification is made to the purchasing company 300, and when the payment is made thereafter, the remaining amount is paid to the selling company.

3 is a flowchart for performing a listing examination during the trade receivable securitization process of the present invention, and FIG. 4 is an embodiment of data for calculating a model score by a credit evaluation model during listing examination, showing data for a large corporation It is a drawing, and FIG. 5 is another embodiment of data for calculating a model score by the credit evaluation model during listing examination, and is a diagram showing data for a small corporation, and FIG. 6 is a model based on the credit evaluation model during listing examination As another example of data for score calculation, it is a diagram showing data for a large-scale individual. It is a diagram showing data for

Referring to FIG. 3 , it is determined whether accounting data accumulation conditions are met for the company that has applied for listing (S211, S221, see FIG. 2) (S330). It can be determined whether the company's accounting data has been accumulated over a period of time for which it can be meaningfully used, i.e., at least 24 months of accounting data.

However, in order to grasp and use the accounting data of the corresponding company as described above, the trade receivable securitization system 100 requires an authority to access the accounting data of the corresponding company through the network. At this time, i) if the company is using its own ERP, the accounting data is stored on its own server, but ii) if the company uses the cloud service, the accounting data of the company is stored in the cloud server. may be Accordingly, the acquisition of the authority for the trade receivable securitization system 100 to access the accounting data means to obtain the right to access the company's server in the case of i), and in the case of ii), the company's accounting data is to gain access to the cloud server where is stored.

To this end, first, the trade receivable securitization system 100 builds a platform for providing services such as trade receivable securitization services, finance, accounting, and tax (hereinafter referred to as 'accounting-related services' as a comprehensive name for these), and the company may have them subscribe to it. That is, a company subscribing to such an accounting-related service can use various accounting-related services including a trade receivable securitization service while providing its accounting data to the trade receivable securitization system 100 . In the present invention, these accounting-related services may include various services such as trade receivable securitization service, finance, accounting, taxation, or the like, or may include only trade receivable securitization service.

In this case, the trade receivable securitization system 100 may first determine whether a company that has applied for listing in the trade receivable securitization system 100 has subscribed to the corresponding accounting-related service provided by the trade receivable securitization system 100. (S310). This is in order to be able to access the accounting data of the company applying for listing through the relevant accounting-related service platform.

After receiving consent for the use and provision of accounting data through the corresponding company terminals 200 and 300 (S320), and when the corresponding company satisfies the accounting data accumulation condition (S330), the trade receivable securitization system 100 is also listed Conducts a closure / closure history inquiry of the applying company (S340). At the time of listing review, there must be no closure/closure of business, and if there is a history of business suspension or closure, a decision to reject listing is made.

As such, the company's accounting data used by the trade receivable securitization system 100 at the time of listing examination and subsequent trade receivable examination (true transaction determination (S400), transaction risk assessment (S500)), etc. is based on the existing annual financial statements Because it is based on real-time accounting data, it has the advantage of excellent timeliness and effectiveness.

In other words, since annual financial statements are created every year, and such financial statements are generated 3 months after the end of the fiscal year for corporations and 5 months for individuals, not only is the timeliness poor, but also the final results for only one year As it is included, the process is not included. For example, if the total sales for one year is 100 million won, only the amount of 100 million is written on the annual financial statements, so even if the same 100 million won, there may be sales only at the beginning of the year and no sales at the end of the year. There is a problem in that it cannot be expressed.

On the other hand, as described above, the trade receivable securitization system 100 obtains authority through the consent of the company applying for listing, and accesses the accounting data of the company applying for listing through the network or through the aforementioned accounting-related service platform. In this case, the accounting data is real-time accounting data, and it is possible to find out the change trend of each account item using the daily data, so that the actual credit situation of the company can be accurately determined. More timely and accurate data than the annual financial statement-based model will be used.

Thereafter, the trade receivable securitization system 100 calculates a credit rating based on a credit evaluation model for a company applying for listing (S350), and detailed embodiments thereof are shown in FIGS. 4 to 7 . Among them, an embodiment of a credit rating calculation method for a large corporation will be described with reference to FIG. 4 . In addition, in Figs. 4 to 7, Fig. (a) shows the listing examination items and variables, and Fig. (b) shows the calculated rating for each score of the credit rating model. A large corporation is a corporation with annual sales of 2 billion or more, A small corporation is a corporation with annual sales of less than 2 billion, A large individual is a sole proprietor with annual sales of 300 million or more, A small individual is a sole proprietor with annual sales of less than 300 million indicates In addition, in each figure, the regression coefficients are indicated as r0, r1, r2, ..., which are only used instead of actual numbers, and for example, r1 in FIG. 4 and r1 in FIG. 5 do not mean the same value.

Referring to FIG. 4( a ), each variable has a value corresponding to the meaning of the corresponding 'label', and the regression coefficient for each variable is a value obtained using a logistic regression model. The regression coefficient of 'Intercept' is the regression coefficient when no other variables occur. In FIG. 4, the trade receivable securitization system 100 is estimated from Y = r0 + r1*T375 + r2*T21 + r3*T199 + ... + r16*IND1 + r17*IND2, and the estimated default probability = exp(Y)/ (1 + exp(Y)) is obtained, and this estimated default probability is converted into a standardized score with an average of 50 and standard deviation of 15 through standardization using a normal distribution.

In this way, the value of the estimated default probability converted to the standardized score is the value described in the 'lower limit' and 'upper limit' of FIG. 4(b), and the trade receivable securitization system 100 is shown in FIG. As shown, the credit rating is calculated. From the credit rating calculated in this way, the trade receivable securitization system 100 makes a listing approval decision (S371) up to a preset specific credit grade, and makes a listing rejection decision (S372) for a credit grade that does not meet this. Thereafter, the trade receivable securitization system 100 issues a payment account to receive future trade receivable payments to the company for which listing approval is determined (S380).

5 to 7 also uses the credit rating calculation method of the same method as in FIG. 4, and thus will not be separately repeated.

On the other hand, an artificial intelligence (AI) model may be used in addition to the above-mentioned model for calculating the credit rating at the time of the listing review. That is, machine learning is performed using various variables for credit rating determination and data on rating results therefor, and the artificial intelligence model formed thereby is used as a credit rating model. In this case, when various variable values for credit rating calculation are input into the artificial intelligence model, the credit rating is output to the artificial intelligence model, thereby determining whether or not the listing examination has passed.

8 is a flowchart for determining genuine transactions during the trade receivable securitization process of the present invention, and FIG. 9 is a view showing an embodiment of the items for determining genuine transactions.

In FIG. 8 , the processes of steps S410 to S470 are not necessarily performed in this order, and may be performed in any order, and sometimes some steps may be omitted. An embodiment (At_01 to AT_20) of detailed discrimination items corresponding to each of steps S410 to S470 is shown in FIG. 9 . However, the items shown in FIG. 9 are exemplary and not limited thereto, and different detailed discrimination items may be further included for each category.

In the table of FIG. 9, 'item name' describes detailed discrimination, and 'reference value 1' shows an example of a value serving as a reference for such discrimination. For example, in the category of 'Accounting adequacy', in the case of detailed discrimination items for "whether the value of the last 12 months of the payback date in all transactions over the past 2 years is greater than the reference value 1", the standard value 1 is the payback date of the previous 12 months * It is a value of 2, and if it is greater than the reference value 1, 'signal occurrence' is '0 (occurrence)'. A case in which 'signal occurrence' is '0' in all items means a negative result.

The trade receivable securitization system 100 accesses the accounting data of the selling company 200 and the purchasing company 300 and performs a judgment on each detailed determination item (corresponding to 'item name') to determine whether a signal is generated or not. It is calculated as 0 or 1 (steps S410 to S470), and from these calculated values, it is determined whether or not the final genuine transaction is made (S480).

For example, in FIG. 9 , it is determined that the result is '0', that is, if the number of items that do not meet the standard is determined and the number is greater than or equal to a preset number value, it can be determined that the transaction is not genuine (S480). In addition to this, in the case of an item to which a particularly important meaning is given, if the result of the item is '0', that is, if the standard is not met, it may be determined that the item is not a genuine transaction regardless of the number of other items that do not meet the standard (S480) ).

The main meaning of each category item (steps S410 to S470) is as follows. First, the term 'bombing company' means a company that has a significant problem in the credit status of a company, such as publicly disclosed as a high-value tax evasion company on the website of the National Tax Service or registered as a checking-transaction suspension company with the Korea Financial Telecommunications and Clearings Institute. is defined as a revolving transaction if, for example, seller A's buyer B exists, and B's buyer C exists, and C's buyer is A. When looking at only the transactions between A and B, it seems that there is a bond-liability relationship, but if you analyze the revolving transaction, you can determine the case in which the bond-liability relationship is virtually offset and does not actually remain. Rotation transactions do not only occur between the three parties A, B, and C, but may also occur between 4 or 5 parties such as A, B, C, D or A, B, C, D, E.

In the calculation of the adequacy of accounting treatment (S410), adequacy is determined through the total balance of the balance sheet of the seller and the buyer, whether the two companies account for the transaction details, and the change in collection/payment date.

In the calculation of the adequacy of the previous transaction (S420), adequacy is determined through the return/cancellation history of both the selling company and the purchasing company, the bilateral transaction history, and the change in the collection/payment date of both companies.

The result calculation (S430) of the sales company's production capacity judgment result determines the adequacy of the seller based on the recent customer departure status, cost-to-sales ratio, and related expense usage rate.

The calculation of the purchasing company purchasing ability determination result ( S440 ) performs adequacy determination based on the status of the purchaser's departure from major customers, the non-payment rate of trade receivables, and changes in borrowings.

In the result calculation (S450) of whether there is an insider transaction risk, the adequacy judgment is performed by verifying duplicate representatives between both the selling company and the purchasing company.

In the management index management index result calculation (S460), appropriateness is determined by checking whether stable management of sellers' monthly accounts receivable turnover and buyer's monthly trade receivables turnover for the past year is performed.

The calculation of the customer relationship network analysis result (S470) is whether the customer is a 'bombing company', or whether the customer corresponds to one of the companies that performed a 'revolving transaction' (hereinafter referred to as a 'revolving transaction company'), or whether the customer is The adequacy is judged by checking whether there has been a recent transaction with a 'bomb company' or a 'revolving transaction company'.

From this meaning, detailed discrimination items At01 to At_20 for each category (steps S410 to S470) are illustrated in FIG. 9 , and other detailed items may be further included as described above.

10 is a flowchart for performing a transaction risk evaluation during the trade receivable securitization process of the present invention, FIG. 11 is a diagram illustrating transaction risk evaluation items, FIG. 12 is a diagram illustrating a transaction risk evaluation model, and FIG. 13 is It is a diagram for explaining the logic of calculating the average collection period of trade receivables.

Also in FIG. 10, the order of steps S510 to S550 may be changed, and the item names are shown in FIG. 11 . The 'decile number' refers to the number (1st decile: lower 10%, upper tenth decile) by ranking the evaluation item values of all companies within the industry in the pre-classified industry classification table. The evaluation calculation formula for each item of FIG. 10 is shown in FIG. 12(a).

For example, in Fig. 12(a), when the account receivable securitization system 100 calculates the 'average collection period of the selling company' by the 'evaluation formula', the weighted average collection period for a specific customer is displayed, and the smaller this value is It is a desirable value. If the payback period value is again ranked by the trade receivable securitization system 100 for all companies in the industry and divided into 10 equal parts, the 10% company with the shortest payback period is the top 10%, and the evaluation result value is '10' as the 10th decile. is calculated, and the 10% of companies with the longest payback period are the bottom 10%, and the evaluation result value is '1' as the deciles.

In addition, weights are set in advance according to importance for each item in FIG. 12( a ), and when the 'evaluation result * weight' of each item is summed, a total score (TR_SC_00) out of 100 points is calculated. The transaction risk assessment grade is determined by comparing the total score (TR_SC_00) calculated in this way with the preset transaction risk assessment grade table (Fig. 12(b)), and from this grade to the preset grade, it is determined as a safe transaction The lower grade is determined to be a risky transaction (S560). The trade receivable securitization system 100 registers trade receivables determined to be safe transactions as bonds to be transacted with investors.

13 shows the logic for calculating the average collection period of trade receivables of the selling company (S510). The total of each 'partial collection of transactions' is the general amount (A), and the 'collection amount' multiplied by each 'collection period' is It is a 'weighted payback period', and the sum of these weighted payback periods is the 'total payback weighted payback period (B). In this case, the weighted average collection period for the relevant customer is obtained by the B/A formula. If the value obtained by multiplying the 'collection period' by the amount of 'partial recovery of transactions' divided by the 'collection amount' becomes the 'weighted average collection period' because there is

For example, if 200,000 won after 3 days and 1.8 million won after 62 days is recovered, the weighted average recovery period is (200,000 won*3 days + 1.8 million won*62 days)/2 million won = 56.1.

On the other hand, if 1.8 million won after 3 days and 200,000 won after 62 days are recovered, the weighted average recovery period is (1.8 million won*3 days + 200,000 won*62 days)/2 million won = 8.9 days.

From this, even if the same amount is recovered within the same period, the 'weighted average collection period' of the collection amount will be significantly different depending on the period during which the recovered amount is divided and recovered.

The calculation of the average bond payment period of the purchasing company ( S520 ) may also be calculated using the same concept.

14 is a view showing the configuration of the trade receivable securitization system 100 of the trade receivable exchange.

Since a series of processes related to the performance of the trade receivable securitization system 100 has been described in detail with reference to FIGS. 1 to 13, the trade receivable securitization system 100 for performing such a process with reference to FIG. ) will be briefly summarized and described focusing on the configuration of

The control unit 101 controls each of the following components of the trade receivable securitization system 100 to perform a series of processes for performing the trade receivable securitization process.

The listing review unit 102 performs listing review as described in detail with reference to FIG. 3 for the company that has applied for listing. The listing review unit 102 may use a statistical model as described in detail with reference to FIGS. 3 to 7 in the use of the evaluation model for listing screening, or by machine learning as described with reference to FIG. A formed AI model can also be used.

The purchasing company consent receiving unit 103 receives the purchasing company's post-consent to the selling company 200's application for securitization of accounts receivable (net factoring), or receives the purchasing company's trade receivable registration and prior consent (reversed) factoring).

When it is determined that the listing application company is approved for listing, the genuine transaction determining unit 104 receives an application for securitization of trade receivables from the company and determines whether the trade receivable is a genuine transaction as described in detail with reference to FIG. 8. .

The transaction risk evaluation unit 105 performs transaction risk evaluation on the trade receivables as described in detail with reference to FIG. 10 .

The trade receivable register 106 registers the trade receivable as a bond to be traded with an investor when the trade receivable is determined to be a genuine transaction and passes the transaction risk assessment, and if necessary, sells the trade receivable to the investor, It is also possible to classify the trade receivables by grade according to the investment value evaluation including the profitability of the trade receivables.

The cash on delivery unit 107 performs the payment of the trade receivables to the selling company from the investment money deposited from the investor through the closing of the trade for the trade receivables. At this time, the cash receivable unit 107 partially repays the trade receivables price to the selling company from the investment money deposited from the investor through the closing of the trade for the trade receivables, and confirms that the price for the trade receivables has been deposited from the purchasing company After that, the payment of the remaining amount may be directly reimbursed to the seller, or the remaining amount may be paid to the seller through the SPC server.

The trade receivable trading unit 108 sells trade receivables to an investor and serves to receive investment money from the investor. It may also be an SPC server.

10: Investor terminal
100: Trade receivable securitization system
200: vendor terminal
300: purchasing company terminal
400: SPC server

Claims (20)

As a method of listing review of a trade receivable exchange,
(a) receiving a listing application from a terminal of a specific company (hereinafter referred to as 'corporate terminal');
(b) receiving consent for the provision and use of accounting data of the company applying for listing;
(c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated;
(d) calculating a credit rating by a credit rating model; and,
(e) A decision to approve listing if the credit rating meets the passing criteria, and a decision to reject listing if it does not meet the criteria
Listing review method of trade receivables exchange, including. The method according to claim 1,
The companies applying for listing are
Being a company that has a receivable for the purchase (hereinafter referred to as 'trade receivable') for the product after selling the product to another company
A listing review method of the trade receivable exchange, characterized in that The method according to claim 1,
The companies applying for listing are
After purchasing goods from other companies, it is a company that has a payment obligation for the goods (hereinafter referred to as 'purchase obligation');
A listing review method of the trade receivable exchange, characterized in that The method according to claim 1,
After step (c),
(c1) inquiring whether there is a history of business suspension or closure by using the accounting data of the listed company; and,
(c2) Deciding to reject listing if there is a history of business suspension or closure, and proceeding to step (d) if there is no history of business suspension or closure
Listing examination method of the trade receivables exchange, characterized in that it further comprises. The method according to claim 1,
The credit rating model is
Using logistic regression models
A listing review method of the trade receivable exchange, characterized in that 6. The method of claim 5,
The credit rating calculation is,
(d1) calculating a variable value for each listing examination item and a regression coefficient using a logistic regression model for the listing examination item;
(d2) obtaining a sum of values obtained by multiplying the variable value and the regression coefficient for each listing examination item;
(d3) obtaining an estimated default probability using the sum obtained in step (d2);
(d4) converting the estimated default probability into a standardized score having a specific average value and a specific standard deviation through standardization using a normal distribution; and,
(d5) calculating the credit rating of the listed company from the standardized score
Listing review method of the trade receivable exchange, characterized in that it comprises a. 7. The method of claim 6,
The credit rating calculation in step (d5) is,
This is done using a pre-stored data table in which credit ratings for each standardized score range are matched.
A listing review method of the trade receivable exchange, characterized in that The method according to claim 1,
The credit rating calculation is,
Using artificial intelligence models formed by machine learning
A listing review method of the trade receivable exchange, characterized in that The method according to claim 1,
If it is decided to approve listing in step (e) above,
(f) issuing a payment account to receive future trade receivables to the company that has been approved for listing
Listing examination method of the trade receivables exchange, characterized in that it further comprises. As a system for performing listing review of trade receivables exchange,
at least one processor; and
at least one memory for storing computer-executable instructions;
The computer-executable instructions stored in the at least one memory are executed by the at least one processor,
(a) receiving a listing application from a terminal of a specific company (hereinafter referred to as 'corporate terminal');
(b) receiving consent for the provision and use of accounting data of the company applying for listing;
(c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated;
(d) calculating a credit rating by a credit rating model; and,
(e) A decision to approve listing if the credit rating meets the passing criteria, and a decision to reject listing if it does not meet the criteria
A system for conducting listing review of trade receivables exchanges to ensure that A computer program stored in a non-transitory storage medium for performing the listing examination of the trade receivable exchange,
It is stored in a non-transitory storage medium, and by the processor,
(a) receiving a listing application from a terminal of a specific company (hereinafter referred to as 'corporate terminal');
(b) receiving consent for the provision and use of accounting data of the company applying for listing;
(c) accessing the data of the listed company applying for listing, and determining whether accounting data for more than a preset reference period has been accumulated;
(d) calculating a credit rating by a credit rating model; and,
(e) A decision to approve listing if the credit rating meets the passing criteria, and a decision to reject listing if it does not meet the criteria
A computer program stored in a non-transitory storage medium for performing a listing review of a trade receivable exchange, comprising instructions to be executed. A method for a trade receivable securitization system of a trade receivable exchange to perform trade receivable securitization,
(a) performing a listing examination according to the method of claim 1 on the sales company applying for listing;
(b) a step in which listing approval is determined for the selling company that has applied for listing, and the selling company is listed;
(c) receiving a securitization application for trade receivables from the seller;
(d) performing a determination of whether or not a genuine transaction for the trade receivables;
(e) performing a transaction risk assessment for the trade receivables;
(f) registering the trade receivable as a bond to be traded with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; and,
(g) repaying the trade receivable price to the selling company from the funds deposited from the investor through the closing of the trade for the trade receivable
A method of performing trade receivable securitization, including 13. The method of claim 12,
Between step (c) and step (d),
(c1) receiving consent for the application for securitization of the trade receivables from the purchasing company that is the debtor of the trade receivables of the seller;
A method of performing trade receivable securitization, characterized in that it further comprises. 13. The method of claim 12,
Prior to step (c),
(b1) the purchasing company, which is the debtor of the trade receivables of the selling company, applies for listing, and performs a listing examination according to the method of claim 1 on the purchasing company;
(b2) a step in which listing approval is determined for the purchasing company that has applied for listing, and the purchasing company is listed;
(b3) receiving, from the purchasing company, a request for registration and prior consent for the trade receivables of the selling company, that is, the trade receivables of the purchasing company; and,
(b4) registering the trade payables and prior consent of the purchasing company
further comprising,
In this case, after the application for securitization of sales receivables in step (c) above, ex post consent from the purchasing company is not required.
A method of performing trade receivable securitization, characterized in that 13. The method of claim 12,
The step (g) is,
(g1) partially repaying the trade receivables price to the selling company from the investment money deposited from the investor through the closing of the trade for the trade receivables; and,
(g2) After confirming that the payment for the trade receivable has been received from the purchasing company, directly repaying the remaining amount to the selling company, or allowing the remaining amount to be paid to the selling company through the SPC server
A method of performing trade receivable securitization comprising a. 13. The method of claim 12,
Between step (f) and step (g),
(f1) selling trade receivables to an investor and receiving investment from the investor;
A method of performing trade receivable securitization, characterized in that it further comprises. A computer program stored in a non-transitory storage medium for performing trade receivable securitization of the trade receivable exchange,
It is stored in a non-transitory storage medium, and by the processor,
(a) performing a listing examination according to the method of claim 1 on the sales company applying for listing;
(b) a step in which listing approval is determined for the selling company that has applied for listing, and the selling company is listed;
(c) receiving a securitization application for trade receivables from the seller;
(d) performing a determination of whether or not a genuine transaction for the trade receivables;
(e) performing a transaction risk assessment for the trade receivables;
(f) registering the trade receivable as a bond to be traded with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; and,
(g) repaying the trade receivable price to the selling company from the funds deposited from the investor through the closing of the trade for the trade receivable
A computer program stored in a non-transitory storage medium for performing trade receivable securitization of a trade receivable exchange, comprising instructions to be executed. As a trade receivable securitization system of the trade receivable exchange,
a listing examination unit that conducts a listing examination according to the method of claim 1 for a company that has applied for listing;
a purchasing company consent receiving unit serving to receive the purchasing company's post-approval for the selling company's application for securitization of trade receivables, or to receive the purchasing company's trade receivable registration and prior consent thereto;
a genuine transaction determining unit that receives an application for securitization of trade receivables from the company and determines whether the trade receivable is a genuine transaction when it is determined that the listing application for the company is approved;
a transaction risk evaluation unit for performing a transaction risk assessment on the trade receivables;
a trade receivable register for registering the trade receivable as a bond to be transacted with an investor when the trade receivable is determined to be a genuine transaction and has passed the transaction risk assessment; and,
A cash receivable unit that repays the trade receivables to the selling company from the investment money deposited from the investor through the closing of the trade for the trade receivables
A trade receivable securitization system that includes. 19. The method of claim 18,
The collect on delivery department mentioned above,
Partially repaying the trade receivable price to the selling company from the investment money deposited from the investor through the closing of the trade receivable;
After confirming that the payment for the trade receivable has been received from the purchasing company, either directly repay the remaining amount to the selling company, or have the remaining amount paid to the selling company through the SPC server
A trade receivable securitization system, characterized by 19. The method of claim 18,
Trade receivables trading unit that sells trade receivables to investors and receives investment money from the investors
Trade receivable securitization system, characterized in that it further comprises.

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