Q&A

What is UNBIAS?

UNBIAS helps organisations share invoice status information in a structured, controlled and safe way. The platform keeps track of invoice statuses on an immutable decentralised ledger maintained by participants. When was an invoice created? Has it been approved by the buyer? Has an invoice been factored? With UNBIAS this is clear to whomever it concerns, while information is shielded from others.

Why should I use UNBIAS?

For businesses, UNBIAS enables better access to finance options and at better rates. Furthermore, wrongfully executed payments and cumbersome payment corrections are prevented by using the UNBIAS Smart IBAN.

Factors and credit insurers can rely on onboarded identities in UNBIAS that have undergone due diligence. Also, invoices are guaranteed to be settled to the right organisation, preventing cumbersome payment corrections and debt collection.

How can I use UNBIAS?

UNBIAS will be available for businesses through ERP software. Contact us on info@unbias.eu to check when UNBIAS will be available in your ERP software.

Are you a factor or credit insurer? We invite you to get in touch to discuss the options of using UNBIAS.

How can I become a partner of UNBIAS?

Send an e-mail to info@unbias.eu if you want to know more about becoming a partner of UNBIAS.

When can I use UNBIAS?

UNBIAS is currently in development and will be piloted in the first half of 2019. Subscribe to the UNBIAS newsletter to stay up to date of the latest news and launch dates.

How does it work?

UNBIAS will be integrated in some of the most used ERP and factoring software systems. It automatically registers any invoice status change on a blockchain that is available among the network of users of UNBIAS. 

Why does UNBIAS use blockchain

UNBIAS uses blockchain technology to indisputably register invoice statuses and distributes this information across users in real-time. Blockchain has the ability to establish trust among users through technology standardisation and automation. This is important for UNBIAS, as it requires parties to trust invoice status information from each other without necessarily having a standing trade relationship. Furthermore, blockchain allows a large user group to have access to the same information simultaneously.

What about privacy?

Invoices contain sensitive company information and also the status of an invoice may be sensitive. That is why the original invoice data is not transmitted by UNBIAS. Only those organisations that have the original invoice data can retrieve information from UNBIAS. This way, businesses are in control who can read data stored in UNBIAS and privacy of sensitive company information is guaranteed.

How much does it cost?

Prices will soon become available.

Who are involved?

UNBIAS is an initiative from INNOPAY and the University of Trento. INNOPAY is one of the leading payments and digital identity consultancy firms in Europe. University of Trento is a leading institution in ICT research and development in Europe.

We are happy to work together with Atradius for development and testing of UNBIAS.

UNBIAS has received funding from the European Institute of Innovation and Technology (EIT). This body of the European Union receives support from the European Union's Horizon 2020 research and innovation program.

How can I join UNBIAS?

We are currently looking for pilot and launching customers. Contact us for more information on how to join by sending an e-mail to info@unbias.eu.

What is the roadmap for UNBIAS?

UNBIAS will be available in 2019. The platform will be available for commercial purposes from the second half of 2019 onwards.

Please subscribe to the UNBIAS newsletter to stay up to date of the latest news and launch dates.