FactorGenie and Farelanes announce strategic partnership

FactorGenie, a provider of advanced add-on software for the freight factoring sector, has formed a strategic partnership with Farelanes, a premier data distribution platform specialising in real-time freight lane pricing. The collaboration aims to enhance operational efficiency and risk management by embedding Farelanes’ rate intelligence directly into the FactorGenie platform.

Through this integration, freight factors using FactorGenie will gain direct, subscription-free access to Farelanes’ robust and real-time lane pricing data. This feature offers immediate market insights, supporting faster and more informed funding decisions for factors and their trucking clients.

A cornerstone of this collaboration is the enhancement of FactorGenie’s Instant Audit platform, which now leverages Farelanes’ pricing engine via API. This integration enables the automated analysis of submitted load rates, comparing them against real-time market data. Such comparisons allow the system to identify potentially inflated or fraudulent rates, thereby adding an extra layer of risk mitigation and fraud prevention to the factoring process.

Trucking companies—the end users of factoring services—stand to benefit as well. All factoring clients on the FactorGenie platform will receive a complimentary Farelanes Silver subscription. This membership, typically a paid service, gives carriers access to tools and insights for pricing freight more competitively and understanding market dynamics. This initiative aims to foster stronger partnerships between factors and carriers by delivering tangible value across the supply chain.

FactorGenie’s leadership emphasized that the integration significantly elevates the factoring experience. By streamlining rate validation and bolstering fraud detection with high-quality, real-time data, FactorGenie is delivering powerful advantages to its users. Meanwhile, Farelanes expressed enthusiasm about making critical market intelligence more widely accessible. The company highlighted the importance of timely and accurate data in freight logistics and how this partnership removes financial barriers to access it.

This collaboration reflects a shared commitment to innovation and providing value-driven solutions for the evolving needs of the transportation finance industry.